Which of the following statements is true regarding a written promise by an intermediary to provide coverage?

A written promise by an intermediary to provide coverage is acceptable under insurance laws, as it recognizes the role of intermediaries in the insurance process. In many cases, intermediaries, such as agents or brokers, have the authority to bind coverage on behalf of an insurer, depending on the terms of the agency agreement they have. This function is crucial in the insurance industry because it streamlines the process of obtaining coverage for clients and provides them with immediate reassurance that their insurance needs are being addressed.

When intermediaries make such promises, they are essentially facilitating the transactional relationship between the insurer and the insured, and as long as they operate within the bounds of their authority as defined by insurance regulations, these written promises are legally binding.

The other options present different legal concepts that do not directly relate to the nature of an intermediary's written promise regarding insurance coverage. While estoppel and waiver involve the principles of legal enforceability and rights, they apply in different contexts and are not the primary consideration when discussing the authority of an intermediary to promise coverage. Similarly, claiming that such a promise is contrary to insurance laws does not hold true because, under the appropriate conditions, it aligns with established insurance practices.