What does Countersignature mean? Read on to discover the definition & meaning of the term Countersignature - to help you better understand the language used in insurance policies.
State insurance laws that require an insurance policy to be signed by not only the insurer issuing the policy but also an agent residing in the state where the risk is located. Risk retention groups (RRGs) have resisted compliance with countersignature laws, since this increases the cost of policy issuance.
We hope the you have a better understanding of the meaning of Countersignature.