Multiple Line Law
State legislation that allows insurers to offer both property and casualty insurance. At one time, U.S. insurers sold only one type of insurance, a practice that gradually became written into state law. Most significantly, New York State, where many insurers want to be licensed, allowed insurers to write only one line of insurance early in this century. But in 1949 New York passed a multiple line law, and most other states followed.
Popular Insurance Terms
Maximum amount of a specified type of insurance coverage, according to underwriting guidelines, that an insurance company feels it can safely underwrite on a particular exposure without ...
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Bureau insurer that files its statistical and underwriting experience with a rating bureau. ...
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