Notice of Cancellation
A requirement that a certificate holder be told before a policy is cancelled, often 30 days in advance.
What it means for your firm
The standard certificate says notice will be delivered according to the policy. It does not promise notice to the holder on its own.
When a contract requires advance notice to the holder, it usually needs a separate endorsement on the policy.
Articles that explain it
Missed a Payment? Lapses, Reinstatement and the No-Loss Statement The Insurance Section of Your Contract, in Plain English You Financed Your Insurance. Why Did the Carrier Say You Still Owe? ‘Our Payment Was Returned. Do We Have a Lapse?’ Cancellation, Reinstatement and Rescission Notices Your Lease Requires Additional Insured, Primary Non-Contributory and Waiver of Subrogation. Where Do You Find Them on Your Policy? Insurance Requirements on City, County and DOT Projects: What Flows Down to You
General definition for education only. It is not an interpretation of any policy or contract, and it is not legal advice. The wording of your own policy and contract controls. Policies and definitions vary by insurance company.
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Starting out or renewing, with a policy in hand or not. If something is worth discussing, we’ll call. If not, we’ll say so.