Alterations can be done by placing a suitable endorsement on the policy
For some alterations, cancellation of existing policy and issuance of new policy are resorted to
Both the above are wrong
None of the three
✅ The correct answer is C.
An alteration of the risk occurs when there is a change in the circumstances which, according to the contract, are to form the basis of the insurance, and the risk is thereby altered contrary to the implied conditions of the contract.
An alteration of the risk occurs when there is a change in the circumstances which, according to the contract, are to form the basis of the insurance, and the risk is thereby altered contrary to the implied conditions of the contract.