Which of the following is a form of insurance that involves indemnity agreements among subscribers?

Reciprocal insurance is a unique form of coverage where individuals or businesses, known as subscribers, come together to mutually indemnify each other against losses. In this arrangement, subscribers agree to share risks among themselves, creating a pool of funds that can be used to pay claims made by any member of the group. This collaborative approach allows for a more personalized insurance experience, as subscribers participate in the management and governance of the reciprocal, often benefiting from lower costs due to shared risk.

In contrast, commercial insurance is typically provided by an insurer to businesses and is a more conventional insurance model without the mutual indemnity agreements found in reciprocal insurance. Term insurance provides coverage for a specific period and does not involve any investment or savings component, while whole life insurance combines life coverage and a savings element. Neither of these policies is structured around the collaborative indemnity agreements characteristic of reciprocal insurance.