By statute, an insurance policy may be either oral or written, depending on the nature of the policy.

Name: By statute, an insurance policy may be either oral or written, depending on the nature of the policy.
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Insurance policies are typically required to be in writing to ensure all terms, conditions, and agreements are clearly documented and enforceable. Oral agreements are generally not considered legally binding in the context of insurance.

By Statute, an Insurance Policy May Be Either Oral or Written