OMEXThe Ontario Municipal Insurance Exchange (OMEX) is a not-for-profit reciprocal insurance exchange owned and governed by Ontario municipalities. Reciprocal Insurance Exchanges are contractually-based risk sharing arrangements. Reciprocals are not corporations, partnerships, or proprietorships, however, they are licenced insurance companies governed by the Insurance Act.When joining a reciprocal, the new subscriber must sign a Reciprocal Agreement which outlines the obligations assumed by all parties and the legal basis upon which the reciprocal operates. This is the governing document of the risk sharing arrangement.OMEX is devoted exclusively to providing Ontario municipalities with a complete insurance program at costs that reflect the cost of claims. Since OMEX specializes solely in municipal risks, major claims and disasters in other industries do not adversely affect the premiums of its members.OMEX was created in 1986 by a group of Toronto-area municipalities in an attempt to collectively take control of their insurance requirements and escalating insurance costs. more... See more text