Every insurance policy provides for termination of a policy by either the insurer or by the insured. When will cancellation takeeffect if the insured person wishes to cancel a policy?OA) On the date the policy or Lost Policy Voucher is signed off by the insured.OB) Thirty (30) days after receipt of a registered letter requesting cancellation.OC) Ten (10) days after a written request has been delivered to the insurer.OD) As soon as the insured receives payment of any return premium due. An individual comes to your office and requests an automobile insurance policy. He/she has valid owner and driver permits, butreveals a driving record that includes several impaired driving convictions. It is 10:30 a.m. and the person has everyappearance that they could have another impaired charge on the way home. You are also very aware that the management ofyour office is concerned with its loss ratio. What would be an appropriate response?OA) Tell the individual your companies are unable to help because of their current restrictions on drivers with impairedconvictions.OB) Send him/her down the street to a competitor whom you feel is more inclined to write this class of business.OC) Ask the individual to complete an application which you will submit to an insurer.OD) Tell the individual you require payment of a fee for service before you search for an insurer to accept an application.

Insurance is an agreement between an insurance company (insurer) and an individual or entity…

Every insurance policy provides for termination of a policy by either the insurer or by the insured. When will cancellation takes effect if the insured person wishes to cancel a policy? OA) On the date the policy or Lost Policy Voucher is signed off by the insured. OB) Thirty (30) days after receipt of a registered letter requesting cancellation. OC) Ten (10) days after a written request has been delivered to the insurer. OD) As soon as the insured receives payment of any return premium due.

Every insurance policy provides for termination of a policy by either the insurer or by the insured. When will cancellation takes effect if the insured person wishes to cancel a policy? OA) On the date the policy or Lost Policy Voucher is signed off by the insured. OB) Thirty (30) days after receipt of a registered letter requesting cancellation. OC) Ten (10) days after a written request has been delivered to the insurer. OD) As soon as the insured receives payment of any return premium due.