State law determines the status of all parties obtaining insurance.

Question

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State law determines the status of all parties obtaining insurance. This means that state law governs the rights and obligations of both the insurer and the insured. Each state has its own set of laws that regulate insurance, and these laws may differ from one state to another. Therefore, it is important to understand the insurance laws in the state where the policy is being issued or where the dispute is likely to arise.

State Law Determines the Status of All Parties Obtaining Insurance