Appleton Rule
Definition of "Appleton rule"
Regulation named after a former Superintendent of Insurance of New York State, and instituted in the early 1900s. It requires every insurer admitted to New York to comply with the New York Insurance Code and even in other states where that insurer does business. This rule has had a nationwide impact on the insurance industry. New York State is known for its leadership role in insurance regulation. Thus, if an insurance company is admitted to conduct business in New York, it is a sign that it has met exacting requirements.
Popular Insurance Terms
Type of trust used to remove assets from a surviving spouse's estate, thereby excluding such assets from federal estate tax upon the death of the surviving spouse. This type of trust allows ...
Property owned by two or more parties in such a way that at the death of one, the survivors retain complete ownership of the property. ...
Coverage for a bank in the event of loss due to dishonest acts of its employees or individuals external to the bank. For example, if a teller goes to Mexico with the bank's money, the bank ...
Coverage for the perils of burglary, theft, and robbery. ...
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