All of the Following Statements About the Cancellation of a Homeowners

question 5

Multiple Choice

All of the following statements about the cancellation of a Homeowners 3 policy are true EXCEPT

• A) The insurer may cancel a new policy for any reason if it has been in force for less than 60 days and is not a renewal policy.
• B) At least 100 days' notice of cancellation must be given if an insurer cancels a policy for nonpayment of premium.
• C) A policy written for longer than 1 year can be cancelled for any reason on the anniversary date by giving the insured at least 30 days' notice of cancellation.
• D) After a policy has been in force for at least 60 days, it can be cancelled by the insurer if the risk has increased substantially since the policy was issued.

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Definitions:

Legal Basis

The foundational legal principles or grounds upon which laws, regulations, and judicial decisions are built.

54th Massachusetts

An all-black regiment in the Union Army during the American Civil War, known for its bravery and made famous by its assault on Fort Wagner.

Fort Wagner

A fortification on Morris Island in South Carolina that was the site of an important battle during the American Civil War, known for the valiant charge of the 54th Massachusetts Volunteer Infantry, one of the first major African American units in the U.S. Army.

Integrated Regiment

A military unit consisting of soldiers from different races or backgrounds, combined to serve together as one entity.