Which of the following statements about offer and acceptance for insurance contracts is true?

Insurance

Are you looking for the correct answer to the question “Which of the following statements about offer and acceptance for insurance contracts is true?”? If that’s the case, you don’t have to worry anymore. AzAnswer team is here with the right answer to your question. Please check below to know the answer.

Which of the following statements about offer and acceptance for insurance contracts is true?

Options

A) In property and liability insurance, agents typically do not have the authority to bind coverage.
B) In life insurance, the agent can usually accept an offer by immediately binding coverage.
C) In property insurance, the offer and acceptance are usually in writing but may be oral.
D) In life insurance, the offer is merely the promise to pay the first premium.

Answer: C) In property insurance, the offer and acceptance are usually in writing but may be oral.

The above question Which of the following statements about offer and acceptance for insurance contracts is true?, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.