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Which one (1) of the following is the legal way for an insurer to terminate an automobile insurance policy for non-payment of premium? By refunding the unearned portion of any premium paid in instalments. By ordering the insurance broker to pick up the policy from the insured. By giving the insured written notice of termination in accordance with the policy Statutory Conditions. By ordering the broker to issue a registered letter of cancellation.

Which one (1) of the following is the legal way for an insurer to terminate an automobile insurance policy for non-payment of premium? By refunding the unearned portion of any premium paid in instalments. By ordering the insurance broker to pick up the policy from the insured. By giving the insured written notice of termination in accordance with the policy Statutory Conditions. By ordering the broker to issue a registered letter of cancellation.

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Which one (1) of the following is the legal way for an insurer to terminate an automobile insurance policy for non-payment of premium? By refunding the unearned portion of any premium paid in instalments. By ordering the insurance broker to pick up the policy from the insured. By giving the insured written notice of termination in accordance with the policy Statutory Conditions. By ordering the broker to issue a registered letter of cancellation.
Transcribed Image Text:Which one (1) of the following is the legal way for an insurer to terminate an automobile insurance policy for non-payment of premium? By refunding the unearned portion of any premium paid in instalments. By ordering the insurance broker to pick up the policy from the insured. By giving the insured written notice of termination in accordance with the policy Statutory Conditions. By ordering the broker to issue a registered letter of cancellation.
Your client leases an automobile on an annual basis from an auto leasing company and asks you to look after the automobile insurance. What special insurance arrangements would be necessary to make certain the insured and spouse would be covered while operating the motor vehicle? No special arrangements are necessary. The O.A.P. 1 Owner's Policy covers your client's spouse automatically. Issue an O.A.P. 1 Owner's Policy in your client's name also advising the insurer of the name of the leasing company. Advise the insured to have the leasing company include the vehicle under its Garage Automobile Policy endorsed to include insured's spouse. Issue an O.A.P. 1 Owner's Policy in the name of both the leasing company and your client with an "OPCF 5-Permission to Rent or Lease Automobiles" endorsement.
Transcribed Image Text:Your client leases an automobile on an annual basis from an auto leasing company and asks you to look after the automobile insurance. What special insurance arrangements would be necessary to make certain the insured and spouse would be covered while operating the motor vehicle? No special arrangements are necessary. The O.A.P. 1 Owner's Policy covers your client's spouse automatically. Issue an O.A.P. 1 Owner's Policy in your client's name also advising the insurer of the name of the leasing company. Advise the insured to have the leasing company include the vehicle under its Garage Automobile Policy endorsed to include insured's spouse. Issue an O.A.P. 1 Owner's Policy in the name of both the leasing company and your client with an "OPCF 5-Permission to Rent or Lease Automobiles" endorsement.
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