Charter

{
  "id": "MLC-T-INS-000744",
  "term": "Charter",
  "field": "Insurance and risk management",
  "definition": "A formal document issued by a governmental authority that grants legal existence and defines the powers and purposes of a corporation or other organization. For an insurance company, its charter specifies the types of insurance it is authorized to write, its corporate structure, and its operational guidelines. Adherence to the charter is a fundamental requirement for maintaining regulatory compliance and operating legally.",
  "url": "https://mlchart.com/terminology/insurance/charter/"
}