Who manages the premiums collected from a group's members in a reciprocal insurer?

In a reciprocal insurer, the management of premiums collected from a group's members is typically handled by an Attorney in Fact. This individual acts on behalf of the members (or subscribers) and is responsible for managing the day-to-day operations of the reciprocal insurer, including the handling of premium funds. The Attorney in Fact ensures that the costs associated with claims, operational expenses, and any investments made by the insurer are managed effectively.

The role of the Attorney in Fact is central in a reciprocal insurance arrangement, where subscribers mutually agree to insure each other, pooling their resources together. This arrangement requires someone to manage these collected premiums and enact the policies that govern how the insurer operates, which is why the Attorney in Fact is the correct choice for who manages these financial resources.

Other roles mentioned, such as a financial administrator, board of directors, or claims adjuster, do not fulfill the primary responsibility of overseeing the collection and management of premiums in a reciprocal insurer, making them less relevant in this specific context.