Nontransferability Provisions - How To Discuss
Nontransferability Provisions,
Nontransferability Provisions:
A provision in the Professional Liability Policy stating that policyholders cannot transfer insurance coverage to an insured person without the approval of the insurance company. For example, Lawyer A, who sells his practice at B, cannot transfer his professional compensation to Insurance B without the approval of the insurance company. In fact, professional insurance is a private contract.
Nontransferability Provisions,
How To Define Nontransferability Provisions?
Professional Compensation An insurance clause stating that the insured cannot transfer his insurance coverage to the insured without the permission of the insurer. For example, an attorney sells his practice B and cannot transfer his professional compensation insurance to B without the approval of his insurer. In fact, professional insurance is a private contract.
Nontransferability Provisions,
Definition of Nontransferability Provisions:
Professional liability insurance clause stating that the policyholder cannot transfer his insurance coverage to an uninsured person without the consent of the insurer. For example, Attorney Aw sells his Practice B and cannot transfer his professional compensation to Insurance B without the approval of his insurer. In fact, professional insurance is a private contract.
