What does Fictitious Group mean? Read on to discover the definition & meaning of the term Fictitious Group - to help you better understand the language used in insurance policies.
A fictitious group, in the context of the insurance industry, is a bogus or fake group made up in order to buy insurance. Buying insurance as a fictitious group is illegal and considered an unfair and prohibited practice. The federal government preempts this law for risk purchasing groups.
We hope the you have a better understanding of the meaning of Fictitious Group.