If there is a change after delivering evidence of insurance, what must the surplus lines licensee do?

Study for the Missouri Surplus Lines Exam with engaging quizzes. Use flashcards and multiple choice questions, complete with hints and explanations. Prepare confidently for your exam!

The correct response to this question is rooted in the obligation of the surplus lines licensee to maintain transparency and communication regarding any modifications that occur after the issuance of the insurance policy. When a change in coverage or terms occurs, it is crucial for the licensed individual to inform the insured about these changes. This notification ensures that the policyholder is aware of their coverage details and understands any implications that may arise from the modifications.

Open communication fosters trust between the insured and the licensee, allowing for informed decision-making on the part of the insured. Additionally, notifying the insured helps to prevent misunderstandings or disputes about the coverage, thus protecting both the insured and the licensee.

The other options do not adequately fulfill the responsibility of informing the insured about changes. Requesting a new premium calculation may be necessary in specific contexts but does not address the need for notification. Changing license status or filing a complaint with the insurer do not pertain directly to the obligations related to informing the insured about changes in coverage and terms. Therefore, the requirement to notify the insured stands as the most relevant and important action in this scenario.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy