Can an insurer bind coverage without TRIA before getting the signed rejection letter?
Please provide a link if possible.
I have seen it go both ways.
In my renewals this year I saw apps that added tria on if there was no rejection.
I was apps that excluded tria unless you specifically requested it.
It came down to reading each submission very carefully.
So to answer your question, I bet they can.
No link, just my opinion as an agent. Yes, I've done it, but if you don't get the rejection form signed & back to me in a couple days, I add the coverage back on. The current trend with carriers is to NOT CHARGE for the terrorism coverage, it's kind of an inducement to not delete it. One carrier, Zurich, shows the premium at 0, but is filed to have it on ALL property & GL policies.
I don't like binding coverage without applications, deposits & signatures - it's WAY too risky. I'd do it for my mom, MAYBE. LOL.
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