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The policy term is the period that an insurance policy provides coverage. Many policies have a one-year term (365 days) but other terms both longer and shorter are used. Policy terms can be for any length of time and can be for a short period when the period of risk is also short or can be for multi-year periods.
Insurance companies are required to provide written notice of cancellation or nonrenewal, typically within 30-120 days (varies by state), to allow policyholders enough time to shop around for ...
Knowing how to cancel an insurance policy is important for several reasons. You may, for example, need to change to a new insurer if you move to a new state. Or perhaps you are taking an extended ...
Many policyholders opt to pay their car insurance premiums on a monthly basis. However, there are times when you might miss a payment due to forgetfulness or because you cannot afford it.
An insurer may look to seek Article 75 status within RTA law if it transpires that the policyholder failed to declare an important fact (such as a drink-drive ban). In this case the insurer will cancel the policy as if it was never incepted (known as ab initio). To do so, an insurer must apply for a declaration under Section 152(2) of the Road ...
In finance, law, and insurance, rescission is the termination of a contract from the beginning (as if it never existed), rendering it void ab initio. In 2009, one judge ruled that borrowers who refinanced into an adjustable-rate mortgage could force a bank to rescind mortgage loans if it acted similarly inappropriately. [ 9 ]
The state of California announced a one-year moratorium on the cancellation or non-renewal of homeowners insurance policies in zip codes affected by the Los Angeles-area wildfires.
LandAmerica Financial Group, Inc. was the third largest title insurance group in the US. It was incorporated in 1991 as Lawyers Title Corporation, and renamed LandAmerica after Lawyers Title acquired Commonwealth Land Title Insurance Company and Transnation Title Insurance Company in 1998. It was headquartered in Glen Allen, Virginia.