Common use of Conditions for Providing Coverage Prior to Approval Clause in Contracts

Conditions for Providing Coverage Prior to Approval. a) Immediate coverage requested by policyholder to meet specific need of policyholder. b) Insurer has reasonable expectation of approval or acceptance. c) Confirmation letter sent to policyholder by insurer stating: (i) The nature and extent of benefits or change in benefits. (ii) The forms may be executed and issued for delivery only after filing with or approval by the Department; (iii) An understanding that, if such forms are not filed or approved or are disapproved, the parties will be returned to status quo insofar as possible, or the coverage will be modified retroactively to meet all requirements necessary for approval; and (iv) The effective date of coverage (Best Practice).

Conditions for Providing Coverage Prior to Approval. (a) Immediate coverage requested by policyholder to meet specific need of policyholder. (b) Insurer has reasonable expectation of approval or acceptance. (c) Confirmation letter sent to policyholder by the insurer stating: (i) The nature and extent of benefits or change in benefits.; (ii) The That the forms may be executed and issued for delivery only after filing with or approval by the Departmentdepartment; (iii) An understanding that, if such forms are not filed or approved or are disapproved, the parties will be returned to status quo insofar as possible, or the coverage will be modified retroactively to meet all requirements necessary for approval; and (iv) The effective date of coverage (Best Practice).