Definition of "Multiple line law"

Maria Koral real estate agent
Maria Koral, Real Estate Agent Berkshire Hathaway HomeServices Commonwealth Real Estate

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.

 

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