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Sagot :
When servicing rights for flood and hazard insurance are transferred, it is the responsibility of the insurance holder to notify the insurance company.
What is insurance?
- An effective way to guard against financial loss is insurance.
- It is a method of risk management that is primarily employed to protect against the risk of a potential loss.
- An organization that offers insurance is referred to as an underwriter, insurer, insurance business, or insurance carrier.
What is an insurance company?
- A firm whose primary and dominating commercial activity throughout the tax year is the issuance of insurance or annuity contracts or the reinsuring of risks underwritten by insurance companies is referred to as an insurance company.
Therefore, When servicing rights for flood and hazard insurance are transferred, it is the responsibility of the insurance holder to notify the insurance company.
Know more about a financial loss here:
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