MLchartDataset catalogue

Fictitious grouping law FGL

Term · Insurance and risk management · MLC-T-INS-001490

Legislation in some states that prohibits insurers from offering preferential rates or coverage to groups formed solely for the purpose of obtaining lower insurance premiums. These laws aim to prevent unfair discrimination among policyholders and maintain actuarial soundness. They typically require that groups possess a legitimate common interest beyond just insurance.

Table 1. Record
IdentifierMLC-T-INS-001490
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-001490",
  "term": "Fictitious grouping law FGL",
  "field": "Insurance and risk management",
  "definition": "Legislation in some states that prohibits insurers from offering preferential rates or coverage to groups formed solely for the purpose of obtaining lower insurance premiums. These laws aim to prevent unfair discrimination among policyholders and maintain actuarial soundness. They typically require that groups possess a legitimate common interest beyond just insurance.",
  "url": "https://mlchart.com/terminology/insurance/fictitious-grouping-law-fgl/"
}

Record 1,365 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.