Assignment of Insurance Policies
Insurance is a contract of personal indemnity where the insurer has agreed to insure a specific individual. If that individual could then assign the policy to a new person, the insurer’s right to choose whom it insures would be made meaningless. The Assignment provision prohibits an assignment of unless the insurer agrees to it in writing. The only exception is that when the insured dies, his or her legal representative can take his or her place.
The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library.
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