ED Magedson – Founder
Infinity InsuranceP.O. Box 830189 Birmingham, Alabama United States of America
661. (a) A notice of cancellation of a policy shall be effective
only if it is based on one or more of the following reasons:
(1) Nonpayment of premium.
480. An insurer is entitled to payment of the premium as soon as
the subject matter insured is exposed to the peril insured against.
Chapter 10 is very clear that a nonpayment of premium, which what an installment payments are, is an EFFECTIVE CANCELLATION NOTICE. On the other hand, Chapter 4 is not as clear but it spelled out that INFINITY IS ENTITLED OR EARNED A PREMIUM ONCE ITS SUBJECTED TO A RISK OF LOSS (ONCE IT INSURED A POLICY). However, except a cancellation, rejection, submission, and rescission. But Chapter 5;481(b) is the most pro-founding regulation of them all because it states that INFINITY MAY NOT MANDATED THAT THE PREMIUM ARE FULLY EARNED UNLESS THE POLICY HAVE EXPIRED.481. (a) Unless the insurance contract otherwise provides, a personinsured is entitled to a return of his or her premium if the policyis canceled, rejected, surrendered, or rescinded, as follows:(1) To the whole premium, if the insurer has not been exposed toany risk of loss.(2) Where the insurance is made for a definite period of time andthe insured surrenders his or her policy, to such proportion of thepremium as corresponds with the unexpired time, after deducting fromthe whole premium any claim for loss or damage under the policy whichhas previously accrued. The provisions of Section 482 apply only tothe expired time.(b) No contract for individual motor vehicle liability orhomeowners' multiple-peril insurance may contain a provision whichmandates that the premium for the policy shall be fully earned uponthe happening of any contingency except the expiration of the policyitself. This subdivision shall not apply to policy fees or membershipfees.
This report was posted on Ripoff Report on 06/15/2012 02:27 PM and is a permanent record located here: http://www.ripoffreport.com/r/Infinity-Insurance/Birmingham-Alabama-35283-0189/Infinity-Insurance-Christine-Sewell-Christine-Sewell-said-California-State-mandate-that-898155. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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