All About The Insurance Binders
Dec 08, 2023
Even if it is simply a temporary regulation, the binder is a legally binding contract. A broker or an insurer can provide it to show interim proof of insurance pending the issuance of a formal policy. The short binder agreement often does not include all terms and conditions. They are, nonetheless, largely assumed to be true by the public. Unless both parties have agreed to it first, a binding agreement can only come into force if and only if the following conditions are met:
read more