Business Studies, asked by zpthn8699, 8 months ago

When an insurance company is not bound by the terms of the quotation during the set period?

Answers

Answered by shaktikumar22

0

Answer:

Bound. When a person has "bound" insurance coverage, it means that an insurer has temporarily extended him coverage, while the underwriting company is reviewing his application. ... Applicants are required to pay all of their first premium in order for the bound insurance to become active.

Explanation:

Please mark it as the "Brainliest".

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