Under which scenario is an insurance policy transferable?

An insurance policy is generally considered transferable only if the insurer agrees to the transfer. This means that the original insured must seek the approval of the insurance company before assigning their rights and responsibilities under the policy to another party. Insurers often have specific guidelines regarding the transfer of policies because they need to assess the risk associated with the new insured, which may differ from the original insured.

In many cases, policies contain a specific clause stating whether or not they are transferable and the conditions under which this may occur. Without the insurer's consent, the transfer could lead to complications regarding coverage and liability, as the new insured may not be evaluated or approved under the same criteria as the original insured.

The other choices touch on different aspects of insurance but do not correctly reflect the criteria for transferring a policy. The insured requesting a transfer may be a necessary step, but it does not guarantee transfer without the insurer's consent. Changes in policy coverage or the assertion that a policy can never be transferable do not align with the general principles of transferability in insurance contracts.