POLICY AMENDMENTS / ENDORSEMENTS Sample Clauses
The POLICY AMENDMENTS / ENDORSEMENTS clause defines how changes or additions to an insurance policy are formally made after the policy has been issued. Typically, this clause outlines the process for issuing amendments or endorsements, which may include written documentation specifying the new terms, conditions, or coverage modifications. For example, an endorsement might add coverage for a new vehicle or adjust policy limits. The core function of this clause is to ensure that any alterations to the original policy are clearly documented and legally binding, thereby preventing misunderstandings or disputes about the policy's terms.
POLICY AMENDMENTS / ENDORSEMENTS. 1) Changes to the policy must be requested in writing by the agent and/or insured as applicable unless it is a correction to an error made in issuance. The effective date of any changes, other than date of receipt, must be fully justified.
2) After policy issuance, NO binder should be issued or amended. Amendments to coverage or terms should be handled by endorsing the in-force policy.
POLICY AMENDMENTS / ENDORSEMENTS. 1. Changes to the policy must be requested in writing/email by the agent of record and/or insured as applicable unless it is a correction to an error made in issuance. The effective date of any changes, other than date of receipt, must be fully justified.
2. After policy issuance, NO binder should be issued or amended. Amendments to coverage or terms should be handled by endorsing the in-force policy.
3. Provided there has been no Terrorism incident and the insured advises an error was made in their selection, we will allow an insured 30 days to change their minds on purchasing or rejecting Terrorism coverage. We will return or charge the quoted premium with the endorsement.