Which of the following is not true about insurance binders? - ProProfs Discuss
Topics
Products
Follow Us:

Which of the following is not true about insurance binders?



A. Binders are only valid when issued in writing.
B. A binder issued by an agent is valid only if the agent has express authority to issue the binder.
C. Some insurers issue binders directly to let insureds know coverage is in effect until a policy is actually issued.
D. A binder is a temporary contract of insurance.

This question is part of Practise Exam 1
Asked by Wyatt Williams, Last updated: Jan 17, 2020

+ Answer
Request

2 Answers

John Adney

John Adney

Answered Apr 04, 2017

A binder is a temporary contract of insurance.
 

John Smith

John Smith

Answered Feb 19, 2017

Binders are only valid when issued in writing.

Binders can be issued in writing, but oral binders are valid if the agent is acting within the scope of his or her authority. Binders are...Read More
 

Search for Google images
Select a recommended image
Upload from your computer
Search for Google images
Select a recommended image
Upload from your computer
Search for Google images
Select a recommended image
Upload from your computer

Email Sent
We have sent an email to your address "" with instructions to reset your password.