Notice Of Cancellation Clause
Provision in an insurance policy that permits an insured to cancel the policy and recoup the excess of the paid premiums above the customary short rate for the expired time. The clause also permits a company to cancel the policy at any time by sending the insured five days' written notice and repaying the excess of the paid premium above the pro rata premium for the expired time.
Popular Insurance Terms
Law by which many states attempt to regulate insurers who are unlicensed in those states. With a few notable exceptions, such as re insurers, insurance companies must be licensed in the ...
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Act of practicing law or providing legal advice without a license. ...
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