Policyholder Reinstatements Clause Samples
The POLICYHOLDER REINSTATEMENTS clause outlines the conditions under which a lapsed insurance policy can be restored to active status by the policyholder. Typically, this involves the policyholder submitting a formal request, paying any overdue premiums, and possibly providing evidence of insurability or meeting other requirements set by the insurer. This clause serves to give policyholders a clear process for regaining coverage after a lapse, thereby protecting their interests and ensuring continuity of insurance protection when needed.
Policyholder Reinstatements a. AUTOMATIC REINSTATEMENT. ------------------------ If the Ceding Company reinstates a policy that was originally ceded to the Reinsurer as automatic reinsurance using conventional underwriting practices, the Reinsurer's reinsurance for that policy will be reinstated.
Policyholder Reinstatements