Subjectivity
A condition in a quote that must be met before or after binding, such as a signed application or a driver list.
What it means for your firm
Some must be met before binding. Others can be met after, within a set time, often 30 days. If one is not met, the carrier may change the terms or cancel the policy.
We track each one and tell you what is still needed.
Guides that use it
Articles that explain it
“Another agent already submitted you.” Agent of record letters explained Why You Got a Bill After the Policy Ended (Premium Audits) Installation floater vs builders risk Betterment: Why the Owner Still Pays for the Bigger Unit They Never Bought ‘Our Payment Was Returned. Do We Have a Lapse?’ Cancellation, Reinstatement and Rescission Notices When an Engineering Firm Starts Selling a Product, Professional Liability Isn’t Enough
General definition for education only. It is not an interpretation of any policy or contract, and it is not legal advice. The wording of your own policy and contract controls. Policies and definitions vary by insurance company.
Talk to a specialist
Tell Us About Your Firm. We’ll Tell You What We See.
Starting out or renewing, with a policy in hand or not. If something is worth discussing, we’ll call. If not, we’ll say so.