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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. 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.
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.
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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