One of three tenants in your insured's rented triplex, sets fire to his apartment, is charged with arson and jailed. Next day the tenant's wife bails out her husband who allegedly set the fire and they return to live in the damaged apartment. The insurance company wishes to retire from this risk as soon as possible. What procedure must the insurer follow to legally cancel the policy? OA) Insurer can cancel in five days by written notice of termination personally delivered and any return premium paid to insured. OB) Insurer cannot cancel the policy mid-term and must remain on risk until the renewal date. OC) Cancellation can only be made fifteen (15) days following receipt of cancellation notice by registered mail. OD) Policy must remain in force but any additional damage done by the tenant will not be covered.
One of three tenants in your insured's rented triplex, sets fire to his apartment, is charged with arson and jailed. Next day the tenant's wife bails out her husband who allegedly set the fire and they return to live in the damaged apartment. The insurance company wishes to retire from this risk as soon as possible. What procedure must the insurer follow to legally cancel the policy? OA) Insurer can cancel in five days by written notice of termination personally delivered and any return premium paid to insured. OB) Insurer cannot cancel the policy mid-term and must remain on risk until the renewal date. OC) Cancellation can only be made fifteen (15) days following receipt of cancellation notice by registered mail. OD) Policy must remain in force but any additional damage done by the tenant will not be covered.
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Transcribed Image Text:One of three tenants in your insured's rented triplex, sets fire to his apartment, is charged with arson and jailed.
Next day the tenant's wife bails out her husband who allegedly set the fire and they return to live in the damaged
apartment. The insurance company wishes to retire from this risk as soon as possible. What procedure must the
insurer follow to legally cancel the policy?
OA) Insurer can cancel in five days by written notice of termination personally delivered and any return premium
paid to insured.
OB) Insurer cannot cancel the policy mid-term and must remain on risk until the renewal date.
OC) Cancellation can only be made fifteen (15) days following receipt of cancellation notice by registered mail.
OD) Policy must remain in force but any additional damage done by the tenant will not be covered.
Transcribed Image Text:Your insured's O.A.P. 1 Owner's Policy, covering a private automobile and a recreational vehicle, has an "OPCF 32-
Use of Recreational Vehicles by Unlicensed Operators" attached to cover the insured's son who is not licensed. What
is the purpose of this change form?
4
OA) It permits the operation of the recreational vehicle on or off the highway.
OB) It permits the operation of the recreational vehicle by unlicensed persons only while under the close
supervision of a properly registered motor vehicle operator.
OC) It restricts the operation of the recreational vehicle to the insured's premises only.
OD) It waives compliance with that portion of the statutory conditions dealing with prohibited uses respecting
unlicensed operators of the recreational vehicle off a public highway.
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