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WHAT IS REQUIRED FOR AN AGENT TO BIND COVERAGE?

April 26, 2017agent bind coverage

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WHAT IS REQUIRED FOR AN AGENT TO BIND COVERAGE?

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For individuals, agents may bind coverage only upon receipt of a fully completed and signed application and the appropriate deposit premium based on the premium indication. The application and premium must be mailed to the FMMJUA immediately following receipt from the insured. Failure to follow this procedure could result in a gap in coverage. Agents have no binding authority for hospitals, facilities, or corporations.