Discuss four circumstances under which an insurance contract may be terminated.

      

Discuss four circumstances under which an insurance contract may be terminated.

  

Answers


Davis
- When the insured has not acted utmost good faith and is
discovered hence making the
contract invalid.
-When the risk insured has occurred and compensation paid this
bringing an end to the
contract
- On maturity of the contract, this signifying the end of the policy
agreement.
- If the insured decided to discontinue the contract making the
contract no longer tenable.
- When a court of law order termination of the contract this rendering
its will and void
- When the insurance company is finally wound up
- Due to failure to review the contract this leading to lapse of policy.
- Where the insured ceases to have insurable interest in the property
incase property is sold.
Githiari answered the question on September 20, 2017 at 09:48


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