Nguyên tắc bảo hiểm chungCâu 238 / 531
A contractor must show proof of property coverage today, although the policy itself will not be issued for three weeks. A binder issued by the producer:
a.commits the insurer to issue the policy on the terms shown
b.is only a quotation and starts no coverage until money is paid
c.must be in writing, since an oral binder carries no legal effect
d.gives temporary coverage until the policy is issued or declined
Giải thích
A binder is temporary evidence of real coverage that bridges the gap before the policy is delivered, and it ends when the policy is issued or when the insurer declines the risk. Coverage under a binder does not wait for the premium to be paid, and a binder may be oral where the producer holds binding authority, although prudent practice is to confirm it in writing. The insurer can still decline and issue nothing.
Luyện miễn phí toàn bộ 531 câu hỏi — không cần đăng ký.
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Câu hỏi liên quan cùng chủ đề
- A producer has no written power to bind a certain commercial line, but has bound it for years while the insurer accepted the business and paid commissions. A court would most likely find:
- In the traditional legal distinction between the two, a broker differs from an agent because a broker:
- A producer deposits client premiums into the agency's general operating account and pays the office rent out of it. This conduct breaches:
- The structural difference between a stock insurer and a mutual insurer is that the mutual insurer:
- A group of subscribers agree to exchange insurance among themselves, and the arrangement is managed for them by an attorney-in-fact. This insurer is:
- In the property and casualty market, Lloyd's is best described as:
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