1. Individuals, partnerships and corporations of this state, hereby designated subscribers, are hereby authorized to exchange either assessable or nonassessable reciprocal or interinsurance contracts with each other, or with individuals, partnerships and corporations of other states and countries, providing indemnity among themselves, for the purpose of making insurance regarding the following classes:
(1) Property which shall consist of insurance on the following subclasses:
(a) Marine, inland marine, and transportation;
(b) Animals;
(c) All other real and personal property, intangible or tangible;
(2) Liability, which shall consist of insurance for the following subclasses:
(a) Workers' compensation and employers' liability;
(b) Professional malpractice;
(c) Contractual liability;
(d) All other legal liability of the insured to another;
(3) Fidelity and surety;
(4) Accident and health, including death by accident;
(5) Miscellaneous, consisting of all other legitimate forms of insurance not described above but excluding life and annuities.
2. Subscribers exchanging assessable contracts shall not at the same time exchange nonassessable contracts; and provided, further, that if an assessable contract is exchanged the subscriber's agreement shall provide that a subscriber shall be subject to a contingent liability of at least one premium deposit.