RENOUNCEMENT FOR MULTIPLE COVERAGE Clause Samples

The Renouncement for Multiple Coverage clause establishes that an insured party must relinquish claims to benefits under one policy if they are covered by multiple insurance policies for the same risk or event. In practice, this clause typically requires the insured to notify the insurer of any other existing coverage and to choose which policy to claim under, preventing them from receiving compensation from more than one insurer for the same loss. Its core function is to prevent double recovery and ensure that insurance payouts do not exceed the actual loss suffered, thereby maintaining fairness and controlling costs for insurers.
RENOUNCEMENT FOR MULTIPLE COVERAGE. In compliance with article L112-10 of the French Insurance Code, the Policy holder who takes out an insurance policy for non-professional purposes who can prove an earlier cover for one of the risks covered by this new contract may renounce this new contract without incurring any fees or penalties, as long as it has not been fully performed or if the policy holder has not made use of any cover, within a deadline of fourteen calendar days starting from the signature of the new contract. This renouncement is notified by letter or email to the following addresses: By letter: AVI International ▇▇-▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ The insurer will refund the premium paid by the policy holder within thirty days of the date the right to renouncement is exercised, unless a claim under the contract occurs during the renouncement period.
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RENOUNCEMENT FOR MULTIPLE COVERAGE. In compliance with article L112-10 of the French Insurance Code, the Policy holder who takes out an insurance policy for non-professional purposes who can prove an earlier cover for one of the risks covered by this new contract may renounce this new contract without incurring any fees or penalties, as long as it has not been fully performed or if the policy holder has not made use of any cover, within a deadline of fourteen calendar days starting from the signature of the new contract. This renouncement is notified by letter or email to the following addresses: By letter: AVI International ▇▇-▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ 75008 Paris FRANCE The insurer will refund the premium paid by the policy holder within thirty days of the date the right to renouncement is exercised, unless a claim under the contract occurs during the renouncement period.
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Related to RENOUNCEMENT FOR MULTIPLE COVERAGE

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