Chapter 6: Nevada Statutes and Regulations for Property and Casualty (with error-free answers)

Joe received a notice from his insurer that his policy would be cancelled in 30 days. The notice did not give any reason for the cancellation and did not tell Joe any way to obtain that information. When will this cancellation be effective? A 30 days B 6 days after Joe received the notice C Immediately D The cancellation is not effective correct answers D The cancellation is not effective If a notice of cancellation or nonrenewal does not state the facts on which the insurer's decision is based, the insurer must supply that information upon written request by the policyholder. No notice is effective unless it contains adequate information about the policyholder's right to make such a request. Since the notice contained no reason for cancellation and no instructions on Joe's rights to make a request, the notice is not effective. If three insurers jointly issue a single policy, the policy may be countersigned by A Three appointed agents (one for each insurer). B No one. C One appointed agent on behalf of all insurers. D Attorneys of each insurer only. correct answers C One appointed agent on behalf of all insurers. Where two or more insurers jointly issue a single policy, the policy may be countersigned, on behalf of all insurers, by a duly appointed and licensed agent of any one insurer. How much notice must an insurer give to an insured when canceling a personal policy that was issued for a 3 year term? A 30 days before the expiration date B 60 days before any anniversary C 60 days before the expiration date D 30 days before any anniversary correct answers D 30 days before any anniversary Personal policies issued for a term longer than 1 year may be cancelled with notice 30 days before any anniversary date of the policy. A nonadmitted insurer who provides insurance coverages that are not available from an admitted insurer is called A Assessment mutual insurer. B Capitol stock insurer.