How best to handle remaining policies after a default.
Q: A client has defaulted payment on their commercial policy and, as a debt collector has been unabl...
Q: A client has defaulted payment on their commercial policy and, asa debt collector has been unable to collect payment, I have cancelled it.
Should we cancel their other policies too?
A: As the premium for the commercial policy has not been paid it is in
order for the policy to be cancelled, invoking the policy terms and giving
appropriate written notice to the insured.
You could well find yourself with a bad debt, in respect of time on risk
premium. That would be a matter to resolve with the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Wakam receives PRA approval for new £500m GWP UK insurer
- Aviva’s David Martin on the art of the possible
- Brokers push for more from RSA/NIG