Insurance 101 – Chapter 9 – Volume 13 – The “Loss in Progress” Rule – 6

The “Loss in Progress” Rule – 6

In General Accident v. Industrial Accident Comm., 196 Cal. 179, 237 P. 33 (1925) involved an employer, Vessels, who was interested in obtaining industrial accident coverage for his oil company. He visited a broker, who filled out and forwarded the application to the insurer. Because of slow business Vessels requested that the broker hold the policy until he could decide whether to accept the quote. The insurer instructed the broker to hold the policy for up to 60 days. In the interim one of Vessels’ employees died in an industrial accident.

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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