RE: Someone explain to me
September 21, 2021 at 9:34 am
(This post was last modified: September 21, 2021 at 9:37 am by The Grand Nudger.)
Subject clauses and/or mutual consent. Mind you, the latter is a term of art in practice. Agree to this change or we fold as a company and you lose all your insurance, anyway, is an attempt to form mutual consent. They'll send out a policy rider and a clause notice and people will sign it...like they always do. Holdouts will be tied up in litigation until they miss a payment or do (or are found to have done) anything which is already on the long list of reasons that an insurance company can terminate their contract with you. Even if you won there, they'd retreat to state process and commerce clauses. They only have to outlast some terminally ill claimant, odds are in their favor.
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