Backdating definition insurance

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Description: Currently you are watching Backdating definition insurance porn video. You can find more videos like Backdating definition insurance below in the related videos section. Backdating is the practice of assigning a date to a document that is earlier than the date the document was originally created or signed and finalized. Under most circumstances, backdating is considered fraudulent and illegal. However, there are some permissible exceptions, including the backdating of certain insurance contracts or insurance claims. When an insurer approves a backdated policy, they are then obligated to honor claims for losses that occurred after the backdated period, even if the policy was only signed after the insured event took place. However, the claimant normally needs to demonstrate good reasons for waiting to file a claim or for not being insured before the loss. The insurance company normally will allow this backdating to up to six months, but the policyholder must pay the premium amount covering the prior period.

Added: 02.05.2019 at 02:55

Duration: 10:37

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