The correct action is to return the application to the applicant for completion to ensure accurate assessment, prevent errors, and maintain diligence in underwriting.
The correct action that the insurer should take in the case of an incomplete application is to return the application to the applicant for completion. This ensures that all necessary information is provided for accurate assessment and coverage determination.
By returning the application, the insurer upholds due diligence in underwriting, which involves thorough evaluation of risks. This step helps prevent potential errors or omissions that could impact the policy's terms or the applicant's coverage.
Choosing to complete the blanks based on the insurer's knowledge may lead to inaccuracies and misinterpretations, affecting the overall insurance contract.
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