Coverage Rescission definition
Coverage Rescission means a rescission or denial of coverage under an applicable Master Policy by reason of any fact, event or circumstance other than a fact, event or circumstance which is the basis for an Exclusion.
Coverage Rescission means a determination by Radian either before or after a Claim has been submitted to rescind coverage on a Subject Loan.
Examples of Coverage Rescission in a sentence
If in processing a Perfected Claim, MGIC determines that such Claim is subject to a Coverage Rescission, MGIC shall hold the Claim as a Pending Rescission.
To the extent MGIC has communicated an intent to complete a Coverage Rescission on any Pending Rescission Loan, but has not yet completed such Coverage Rescission, all such communications shall be deemed withdrawn, except to the extent that any such Pending Rescission Loan is identified as a True-Up Loan.
Radian shall reinstate insurance coverage on all Recently Decisioned Future Legacy Claims for which Radian issued a Coverage Rescission as of the Initial Implementation Date or Other Implementation Date, as applicable.