Insurance Contracts

Question 1

Renewal, Nonrenewal, Cancellation

Answer 1

-Notice must be 45 days if reasons other than payment of premiums
-10 days if nonpayment of premiums
-If within first 90 days; at least 20 days written notice for reasons other than nonpayment of premiums.

Question 2

Proof of Loss

Answer 2

Insurer must provide forms; insurer has no responsibility for completion of forms

Question 3

Payment of Claims

Answer 3

Insurers are not obligated to always pay claims depending of circumstances.
-Intentional damage
-Illegal actions
-guilty of misrepresentation or concealment