Which of the following best describes the role of an attorney-at-fact in a reciprocal exchange company?

The role of an attorney-at-fact in a reciprocal exchange company is best described as managing the association of subscribers. In a reciprocal exchange, subscribers—who are the policyholders—come together to pool their resources to provide insurance coverage for each other. The attorney-at-fact acts on behalf of these subscribers, handling the administration and operational aspects of the exchange. This includes managing the underwriting, claims processing, and overall governance of the group's activities.

This role is crucial as the attorney-at-fact is responsible for ensuring that the interests of the subscribers are protected and effectively managed. They also facilitate communication and coordination among the subscribers, ensuring that the exchange operates smoothly and meets regulatory requirements. The attorney-at-fact serves a fiduciary role, focusing on the collective interests of subscribers rather than just individual needs.

While other roles mentioned, like working with state regulators or handling sales, are part of the broader insurance operations, they do not encapsulate the primary responsibilities and focus of the attorney-at-fact in a reciprocal exchange structure.