Most Commercial and Personal insurance policies contain a liberalization clause or condition. When an insurance company offers enhanced benefits for policies newer than the one you hold, the liberalization clause adds those enhancements automatically. Examples of enhancements include dollar amount increases, or coverage of additional property.
There’s no additional premium charge for enhancements. Because individual states regulate insurance, enhancements come into effect only after your state implements the changes.
Showing posts with label liberalization. Show all posts
Showing posts with label liberalization. Show all posts
Sunday, 1 July 2007
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