Armstrong Investigation

Definition of "Armstrong investigation"

Shauna M. Talbot real estate agent

Written by

Shauna M. Talbotelite badge icon

Talbot Realty LLC (MD)
Blue Wave Realty (FL)

Inquiry conducted by a committee of the legislature of the State of New York in 1905 that looked at abuses of life insurance companies operating in the state. This study led to stricter supervision by New York and other state insurance departments. For example, many of the policies sold at that time contained language that made the receipt of benefits very difficult to obtain. As a result of the investigation, standard provisions were introduced into life insurance policies. While actual language is not dictated word for word by state regulatory authorities, a policy must provide minimum benefits (such as nonforfeiture provisions) expressed in acceptable language.

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

System of charges to an insured that fluctuates according to the loss experience of that insured. This is a form of experience rating. ...

Property and casualty coverage that indemnifies automobile dealers if a dissatisfied customer demands a refund within the period of time allowed under the Uniform Commercial Code. This ...

Written notice to an insured showing date of termination of an insurance policy. ...

Person insured under a blue CROSS hospitalization or blue shield medical health insurance plan. ...

Indemnification bond under which a stock certificate holder who loses the original certificate will be issued a duplicate. The indemnity bond guarantees that if the original stock ...

Excess of the sales price of an asset over its book value. Listed as part of the Annual Report in the summary of the surplus account and/or in the Summary of Operations. ...

Government reinsurance program that provided coverage for U.S. properties during World War II. Private insurers shared the first layer of coverage, with the government providing ...

Circumstance in which no agent is servicing a debit. ...

Coverage on real property written to have no time limit. A single deposit premium pays for insurance for the life of the risk. The insurer earns enough investment income on the deposit to ...

Popular Insurance Questions