Simple Cooperative Insurance has two forms:
The first: Simple Cooperative Insurance based on participation .
Persons who are exposed to similar risks form a society with the aim of helping one another in distributing the financial loss which one of them may incur during the period of the agreement. In this case, members who have subscribed to this insurance do not pay any premium or amounts of money except expenses required to establish the society.
These expenses are paid in the form of membership fees.
The second: Simple Cooperative. more...
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