Compulsory insurance requirements

{
  "id": "MLC-T-INS-000881",
  "term": "Compulsory insurance requirements",
  "field": "Insurance and risk management",
  "definition": "Legal stipulations set by governmental authorities that dictate the minimum types and amounts of insurance coverage individuals or entities must carry. These requirements are established to safeguard the public interest by providing financial protection against specific liabilities or risks. For instance, most states mandate minimum liability limits for auto insurance policies.",
  "url": "https://mlchart.com/terminology/insurance/compulsory-insurance-requirements/"
}