What does Retaliatory Law mean? Read on to discover the definition & meaning of the term Retaliatory Law - to help you better understand the language used in insurance policies.
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. 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.
We hope the you have a better understanding of the meaning of Retaliatory Law.