Insurance 101 – Volume 52 – Assignment of Insurance Policies

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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The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

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