Definition of "Appleton rule"

Michele Costanzo real estate agent

Written by

Michele Costanzoelite badge icon

EXP Realty LLC

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.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Risk distribution included by type of coverage, by kind of risk, and by geographical location. ...

Coverage on fur coats as well as other clothes that have, fur trim. Protection is provided at any location on an all risks basis subject to the exclusions of wear and tear, war, and nuclear ...

Premium charged for an insurance policy whose coverage does not vary according to the insured loss experience. The premium is calculated either on a specified rating basis or on a ...

Illnesses or disability for which the insured was treated or advised within a stipulated time period before making application for a life or health insurance policy. A preexisting condition ...

Unexpected, unforeseen event not under the control of the insured that results in bodily injury. ...

Classification of occupations according to the degree of risk inherent in that occupation. ...

Damage through an insured's negligent acts and/or omissions resulting in bodily injury and/or property damage to a third party; damage to an insured's property; or amount an insurance ...

Table used in calculating various nonforfeiture values for industrial life insurance policies. These tables give the minimum values that must be generated to the policyowner. The insured's ...

Same as term Assignment Clause: feature in a life insurance policy allowing a policyowner to freely assign (give, sell) a policy to another or institution. For example, in order to secure a ...

Popular Insurance Questions