Completing the Application, Underwriting, Delivering Policies, Contract Law
When an applicant submits a completed application WITH initial premium, what legal act does the applicant perform in contract law?
Answer and explanation
Answer: B. Submitting a completed application with premium constitutes an offer by the applicant to purchase insurance.Source: Texas Supreme Court (Menchaca) — Opinion pages 31-32
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- Under 28 TAC Chapter 22 (Texas Insurance Privacy Rules), when must an insurer provide an initial privacy notice to a customer?
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- Under Texas Insurance Code Chapter 1111A, why are Stranger-Originated Life Insurance (STOLI) transactions illegal?
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