Entrustment - Insurance Software development

What is Entrustment in Insurance?

Author - Webner
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4:15 am
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Entrustment exclusions are a type of clause found in many insurance policies. No coverage will be provided for losses or damages originating from dishonest or illegal conduct by the insured, agents, or anyone to whom the insured has entrusted the insured’s covered property, according to a standard entrustment exclusion clause. Entrustment exclusions are designed to prevent an insured from receiving benefits from an insurance contract for losses caused by dishonest conduct, such as theft, committed by either the insured or anybody with whom the insured has entrusted the insured property. Insurance companies do not want to pay for catastrophes […]

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