Final answer:
The insurance program represented by REIX is best described as a Reciprocal insurance program, where members share risks among themselves and it is a form of private insurance.
Step-by-step explanation:
The term that best describes the insurance program represented by REIX is B) Reciprocal insurance program. In a reciprocal insurance program, the members, also known as subscribers, agree to insure each other and share the risks among themselves. This is a type of private insurance rather than a government insurance program. Unlike government and social insurance programs where federal and state governments run the programs and may or may not have an explicit fund, reciprocal insurance programs involve private entities and individuals that mutually agree to provide insurance to one another.