a rule of courtesy by which one court defers to the concomitant jurisdiction of another; most often used in reference to the long-standing public policy against federal court interference with state criminal proceedings.
EXAMPLE:
Jack kidnaps a young girl and takes her across state lines, a crime that violates both federal and state laws. Although Jack could be prosecuted by both jurisdictions or either of them, under principles of comity the federal prosecutor allows the state to proceed first, because of the anger of the community and their desire to try Jack in a local setting.
Congratulations! You're now Froogled Up™ on what "Comity" means!
Feel free to use it throughout your financial/insurance life.
