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  • Insurer Believes That There Is No Ground For Abandonment There Is A Real Ground For Abandonment But The Insurer Nevertheless Denies The NOA

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    Faye Jennifer Pascua Perez
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    This document outlines the process for an insurer to accept or deny a notice of abandonment from a policyholder. It shows that if the insurer accepts the notice, their liability becomes for partial loss, while if they deny it, their liability depends on whether the denial was valid or invalid, determining if their liability is for actual total loss or remains as partial loss.

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    Flowchart Abandonment

    Original Title

    Flowchart Abandonment

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    This document outlines the process for an insurer to accept or deny a notice of abandonment from a policyholder. It shows that if the insurer accepts the notice, their liability becomes for partial loss, while if they deny it, their liability depends on whether the denial was valid or invalid, determining if their liability is for actual total loss or remains as partial loss.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    14 views1 page

    Insurer Believes That There Is No Ground For Abandonment There Is A Real Ground For Abandonment But The Insurer Nevertheless Denies The NOA

    Uploaded by

    Faye Jennifer Pascua Perez
    This document outlines the process for an insurer to accept or deny a notice of abandonment from a policyholder. It shows that if the insurer accepts the notice, their liability becomes for partial loss, while if they deny it, their liability depends on whether the denial was valid or invalid, determining if their liability is for actual total loss or remains as partial loss.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Circumstances that allow

    ABANDONMENT (Sec.
    141)

    Give NOTICE OF
    ABANDONMENT (Secs.
    142, 143, 145)

    Insurer ACCEPTS Notice Insurer DENIES Notice of


    of Abandonment Abandonment

    INVALID
    VALID DENIAL:
    DENIAL:
    There is a real
    Insurer believes ground for
    that there is no abandonment
    ground for but the insurer
    abandonment nevertheless
    denies the NOA

    Insurer’s Insurer’s
    liability is now liability is now
    based on based on
    PARTIAL ACTUAL
    LOSS TOTAL LOSS

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