What Does It Mean When Reformation Occurs

question 18

Multiple Choice

What does it mean when reformation occurs?

• A)An insurer and a policy holder renegotiate the terms of an insurance contract because the risk of providing insurance to the policyholder has changed.
• B)A court changes a written insurance policy when there was a mutual mistake or fraud on the part of the insurer so it conforms to the parties' supposed actual agreement
• C)An insurance policy holder changes the beneficiary on an insurance policy and the insurer revises the policy contract.
• D)An insurance contract is voluntarily reformed or modified by an insurer because of a unilateral mistake on the part of the insured.

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Definitions:

Patients

Individuals under medical care or treatment.

Fire Department

A municipal organization responsible for preventing and extinguishing fires, as well as providing other emergency services.

Emergency Preparedness

The discipline of dealing with and avoiding both natural and man-made disasters, involving planning, organizing, coordinating, and implementing activities to mitigate the effects of emergencies.

Patients

Individuals receiving medical treatment or care from healthcare providers.