Current through Register Vol. 54, No.43, October 26, 2024
Section 107.2 - Disclosure(a) The "Contingent Liability" of the insured and the "Time for Assessment" shall be clearly and prominently located in each policy in such manner as to alert and fully disclose to the insured the nature and terms of his contractual agreement regarding contingent liability. It shall be made clear that the amount of contingent liability assumed by an insured will be equal to the maximum assessment which the company may make.(b) The Commissioner shall deem policy forms which include the notice "THIS IS AN ASSESSABLE POLICY," printed in accordance with §133.9 (relating to assessable policy) and equally prominent language referring to the page and paragraph or section number, if any, where the assessment provisions are located, to have satisfied the disclosure requirements of this section.The provisions of this §107.2 amended November 14, 1975, 5 Pa.B. 2980.