17 of 20 Ontario Regulation 991, Section 9, requires a certificate of coverage be issued to a member of the public within 21 days of the placing of insurance by a broker. Which one (1) of the following is NOT required? The premium must be paid. The name and mailing address of the insured. The full name of each insurer and the amount of insurance placed with each one. A description of the coverage provided.
17 of 20 Ontario Regulation 991, Section 9, requires a certificate of coverage be issued to a member of the public within 21 days of the placing of insurance by a broker. Which one (1) of the following is NOT required? The premium must be paid. The name and mailing address of the insured. The full name of each insurer and the amount of insurance placed with each one. A description of the coverage provided.
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Transcribed Image Text:17 of 20
Ontario Regulation 991, Section 9, requires a certificate of
coverage be issued to a member of the public within 21 days
of the placing of insurance by a broker. Which one (1) of the
following is NOT required?
The premium must be paid.
The name and mailing address of the insured.
The full name of each insurer and the amount of insurance placed with each one.
A description of the coverage provided.
Expert Solution
Step 1: Define background related to insurance
There are several risks that occur and that can influence the practices and working of the organization. It is important to deal with the risk in an effective manner so that the negative consequences of such risks can be reduced. Insurance is one of the medium that helps in the protection against the possibility of occurance of some uncertain event. Insurance companies provide several types of insurance to the customers that helps in minimizing the loss that can occur. Customers are required to pay insurance premium in order to avail such services. It is a kind of risk management that helps in protection in case of contingent events.
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