Insurable Condition Clause Samples
The Insurable Condition clause defines the requirement that a property, asset, or subject matter must meet certain standards to be eligible for insurance coverage. In practice, this means the insured must maintain the property in a state that is acceptable to the insurer, such as ensuring a building has proper fire safety measures or that a vehicle is roadworthy. This clause serves to minimize the insurer's risk by ensuring that only well-maintained and properly safeguarded items are covered, thereby reducing the likelihood of preventable losses and disputes over coverage eligibility.
Insurable Condition. You shall notify the Company promptly should you become aware of any inaccuracies in an applicant’s responses to any question or request for information contained on an application or elsewhere, including any changes to the applicant’s responses on an application before an insurance product is delivered. For any insurance product delivered to you by the Company, you shall arrange for it to be delivered to the policy owner(s), and the premium paid in accordance with any delivery instructions issued by the Company at that time. You shall not permit the delivery of any insurance product unless, to the best of your knowledge, the owner and insured are in insurable condition, and the first premium has been fully paid. You shall return to the Company, upon request or on the day following the expiration of 60 days after issue, any contract which was not so delivered.
Insurable Condition. You shall notify the Company promptly should you become aware of the death of an applicant, or if you become aware of any inaccuracies in an applicant’s responses to any question(s) or request(s) for information contained on an application or elsewhere, including any changes to the applicant’s responses on an application before an insurance product is delivered. For any insurance product(s) delivered to you by the Company, you shall arrange for such insurance product(s) to be delivered to the owner(s) and the first premium paid in accordance with the delivery instructions issued by the Company. You shall not permit the delivery of any insurance product(s) unless, to the best of your knowledge, the insured is alive, in good health, in the same or better condition than at the time of application, in insurable condition, and the first premium has been fully paid. You shall return to the Company upon request or on the day following the expiration of 60 days any contract which was not so delivered.
Insurable Condition. You shall notify the Company promptly should you become aware of any inaccuracies in an applicant’s responses to any question or request for information contained on an application or elsewhere, including any
Insurable Condition. Tenant shall use reasonable efforts so as not to violate any of the conditions or provisions of any such policy provided for in this Article or void or make voidable any such policies.
Insurable Condition. You shall notify the Company promptly should you become aware of the death of an applicant, or if you become aware of any inaccuracies in an applicant’s responses to any question(s) or request(s) for information contained on an application or elsewhere, including any changes to the applicant’s responses on an application before an insurance product is delivered. For any insurance product(s) delivered to you by the Company, you shall arrange for such insurance product(s) to be delivered to the owner(s) and the first premium paid in accordance with the delivery instructions issued by the Company. You shall not permit the delivery of any insurance product(s) unless, to the best of your knowledge, the insured is alive. In addition, with respect to life insurance policies you shall not permit the delivery of any insurance product(s) unless, to the best of your knowledge, the insured is: in good health, in the same or better condition than at the time of application, in insurable condition, and the first premium has been fully paid. You shall return to the Company upon request or on the day following the expiration of 60 days any contract which was not so delivered. The Company has the right to reject any application, cancel or rescind the sale of any insurance product or authorize the surrender of any insurance product, and in each such case, return any money submitted to the applicant or purchaser, at the Company’s sole discretion. You may be obligated to return to the Company any payment made to you in connection with any such application or insurance product, as set forth in Section 11, below.