Every insurance policy provides for termination of a policy by either the insurer or by the insured. When will cancellation take effect if the insured person wishes to cancel a policy? OA) On the date the policy or Lost Policy Voucher is signed off by the insured. OB) Thirty (30) days after receipt of a registered letter requesting cancellation. OC) Ten (10) days after a written request has been delivered to the insurer. OD) As soon as the insured receives payment of any return premium due.
Every insurance policy provides for termination of a policy by either the insurer or by the insured. When will cancellation take effect if the insured person wishes to cancel a policy? OA) On the date the policy or Lost Policy Voucher is signed off by the insured. OB) Thirty (30) days after receipt of a registered letter requesting cancellation. OC) Ten (10) days after a written request has been delivered to the insurer. OD) As soon as the insured receives payment of any return premium due.
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![Every insurance policy provides for termination of a policy by either the insurer or by the insured. When will
cancellation take effect if the insured person wishes to cancel a policy?
OA) On the date the policy or Lost Policy Voucher is signed off by the insured.
O B) Thirty (30) days after receipt of a registered letter requesting cancellation.
C) Ten (10) days after a written request has been delivered to the insurer.
OD) As soon as the insured receives payment of any return premium due.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff65858d4-3160-46a5-aee0-d9913d81cec5%2F39b22689-296c-4e4a-818a-24c293e14c2d%2Fnlt75v_processed.png&w=3840&q=75)
Transcribed Image Text:Every insurance policy provides for termination of a policy by either the insurer or by the insured. When will
cancellation take effect if the insured person wishes to cancel a policy?
OA) On the date the policy or Lost Policy Voucher is signed off by the insured.
O B) Thirty (30) days after receipt of a registered letter requesting cancellation.
C) Ten (10) days after a written request has been delivered to the insurer.
OD) As soon as the insured receives payment of any return premium due.
![An insured's house is destroyed by fire and due to local by-laws, has to be rebuilt with more expensive materials.
Which one (1) of the following describes the extent of coverage available under a Homeowners Comprehensive policy
which has NOT been endorsed to cover the by-laws exposure.
OA) The increased cost to rebuild.
OB) The cost to rebuild with the same general materials and manner as before.
OC) The cost to rebuild less 10% for improvements and betterments.
OD) The cost to rebuild plus 25% for improvements and betterments.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff65858d4-3160-46a5-aee0-d9913d81cec5%2F39b22689-296c-4e4a-818a-24c293e14c2d%2F1nd6igj_processed.png&w=3840&q=75)
Transcribed Image Text:An insured's house is destroyed by fire and due to local by-laws, has to be rebuilt with more expensive materials.
Which one (1) of the following describes the extent of coverage available under a Homeowners Comprehensive policy
which has NOT been endorsed to cover the by-laws exposure.
OA) The increased cost to rebuild.
OB) The cost to rebuild with the same general materials and manner as before.
OC) The cost to rebuild less 10% for improvements and betterments.
OD) The cost to rebuild plus 25% for improvements and betterments.
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