5.6.1 Constructive Delivery
We've mentioned this but have not fully explained what it means yet. By law, the approved policy must be delivered to the insured, but that doesn't mean it has to be in the physical hands of the insured to be considered "delivered." If the policy is given to the agent for delivery to the insured, then it is considered constructive delivery. It is the point at which the insurer releases control of the contract to another party, such as the agent, for unconditional delivery to the insured.
