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A life insurer issued a quotation on 10 February, guaranteed for 14 days, which was accepted by the customer on day 10. Consequently the insurer can only decline this risk if the

A. Customer submits a second quotation request

B. Insurer increases its underlying premium rates

C. Market place experiences a significant downturn

D. Material facts change

Answer: Option D

Solution(By Examveda Team)

A life insurer issued a quotation on 10 February, guaranteed for 14 days, which was accepted by the customer on day 10. Consequently the insurer can only decline this risk if the Material facts change.

This Question Belongs to Commerce >> Insurance

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