Trident Insurance operates as a reciprocal insurance company,
under Trident Reciprocal Exchange. Each member, also called
subscribers, pays premiums into a common fund, much like a
traditional insurance company. However, in a reciprocal insurer,
the fund is owned by the members themselves, not by external
shareholders, and governed by a Subscriber Advisory Committee.
Trident keeps a fixed percentage from the premiums we collect
for operating costs and the rest goes towards managing claims,
securing reinsurance, and building reserves to ensure enough
resources to meet potential future claims. If there is money
left over, members may benefit from lower premiums in the future
or even dividends.
