![]() ![]() ![]() This section does not require the approval of a binder by any person, firm, corporation, trustee, director, officer, agent, or employee, where there are reasonable grounds for believing that the insurance evidenced by the binder is unsatisfactory as to placement with an unauthorized insurer, the financial solvency of the insurer, adequacy of the coverage, adequacy of the insurer to assume the risk to be insured, the assessment feature to which the policy is subject, or other grounds which are not arbitrary, unreasonable, or discriminatory, nor does this section forbid the securing of insurance or a renewal thereof at the request of the borrower or because of the borrower's failure to furnish necessary insurance or renewal thereof. Correspondence Police Report Medical Bills Medical Records Witness Statements Photographs Wage Information Property Damage Insurance Documents. It’s not like the usual binders name, but just a. This is usually till a new customary statement is delivered. Evidence for property purchase financing.Ī duly authorized binder shall be acceptable as evidence of insurance coverage required as a condition of financing the purchase of real or personal property, provided that a mortgagee or lender shall not be required to accept renewal or extension thereof. An insurance binder is a transcribed lawful contract between you and the insurance company, which helps provide evidence or proof for a specified time (which will last only 3090 days) and will not keep you covered when it expires.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |