retaliatory law

Retaliatory law is a state law providing that another state will be treated in the same terms that the home state is treated by the foreign state in dealings with insurance.

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If, for example, another state requires that all nonresident agents writing insurance or risks in that state obtain a license from that state, a state with a retaliatory law will impose the same requirement on that other state's agents.


Related Terms

A resident agent is domiciled in the state in which he or she conducts his or her business...