Which term describes the exclusion of assignment of interest in a policy without written consent?

The term that describes the exclusion of assignment of interest in a policy without written consent is known as "Assignment of Indemnity." This term is significant in insurance contexts where the rights to receive benefits or payments under a policy cannot be transferred to another party without the insurer's approval. Insurers often include this condition to maintain control over whom they are liable to pay under the policy, ensuring that only the intended insured party can receive indemnity under the terms established.

The concept of assignment is crucial because it involves the legal transfer of rights or property claimed under an insurance policy. Without written consent from the insurer, the insured cannot unilaterally decide to transfer their rights to another individual or entity. This helps protect both the insurer’s interests and the insured’s contractual obligations.

In contrast, the other terms do not accurately convey this specific legal condition. For instance, "Assignment of Coverage" would imply something different, potentially relating to changes in what is covered under the policy rather than the transfer of rights. "Assignment of Liability" suggests a shift of responsibility or obligations owed rather than the rights to receive payment. "Assignment of Rights" could encompass a broader range of rights beyond just the transfer of indemnity, thus not reflecting the specific requirement for written consent