Author Topic: Ted Nugent resigns from NRA board after 26 years  (Read 2007 times)

MillCreek

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Re: Ted Nugent resigns from NRA board after 26 years
« Reply #25 on: September 07, 2021, 11:56:12 PM »
^^^I will say that in the insurance industry, for a semi-custom policy like D&O coverage for a large corporation, it is entirely common to take several weeks to physically prepare, review and proofread the actual policy.  However, coverage has already been bound by the underwriters on the agreed policy terms, so you are covered as of 12:01 am on the policy effective date.

At the malpractice insurance company where I worked for almost 20 years, all policies renewed on 1 January, and it was usually mid to late February by the time the policyholders received the actual paper policy.  I experience the same when I renew my personal lines insurance; it is usually a few weeks before I get the actual policy.

Also, it is interesting that the original underwriter chose not to renew the D&O insurance. That usually means that the new policy is going to cost more, offer more limited coverage, or both.
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MillCreek
Snohomish County, WA  USA


Quote from: Angel Eyes on August 09, 2018, 01:56:15 AM
You are one lousy risk manager.

MechAg94

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Re: Ted Nugent resigns from NRA board after 26 years
« Reply #26 on: September 08, 2021, 09:22:49 AM »
One thought from that post was asking if Wayne and/or others made claims against the old policy. 
“It is much more important to kill bad bills than to pass good ones.”  ― Calvin Coolidge