What does Public Law 15 mean? Read on to discover the definition & meaning of the term Public Law 15 - to help you better understand the language used in insurance policies.
Public Law 15
Public Law 15 is a law that that states that insurance does not have to be subject to anti-trust laws if it is regulated at the state level. The goal of this law was to prevent unnecessary over-regulation of insurance policies and products. The thought behind it was that state regulation was enough to prevent needing federal anti-trust regulation.
We hope the you have a better understanding of the meaning of Public Law 15.