An Insurer Can Cancel, or Refuse to Renew, a Policy

question 46

True/False

An insurer can cancel, or refuse to renew, a policy for any reason, including a reason that would otherwise violate public policy.

---

Definitions:

Limited Liability Company

A business structure that combines the pass-through taxation of a partnership with the limited liability of a corporation.

Hold Title

The legal right of owning a piece of property, whether it's real estate or a vehicle, indicated by a document called a title.

Joint Stock Company

A hybrid form of business organization that combines characteristics of a corporation and a partnership. Usually, a joint stock company is regarded as a partnership for tax and other legal purposes.

Shareholders

Individuals or entities that own shares in a corporation, granting them various rights such as voting on corporate matters.