Policy Cancellations

We’ve been receiving a lot of the same question recently. It’s so common that it’s worth a post for all Big I New York and Big I Connecticut members to read.…

Question from an agent: “We recently had an issue with a carrier not accepting a signed lost policy release (LPR) cancellation request we sent them. My customer service representative (CSR) called them,…

​We get frequent questions (that is, six or more in the last two weeks) about cancellation, non-renewal, and conditional renewal letters from insurers. A lot of members refer to these…

Question: “We had an insurer cancel a Free Trade Zone policy mid-term. The reason for cancellation was noncompliance with inspection safety recommendations. Per the attached notice, they relied on New…

Question: “My insured received the attached non-renewal notice on their Commercial General Liability insurance policy. Is it a legal notice? The coverage is provided by a non-admitted carrier.” Answer: Commercial…

Question from an IIABNY member: “I have a question regarding “Cancellation for Non-Payment of Premium”. In short, after proper notice has been given and no premium is received, can an insurer…

Question from an IIABNY member: “My question pertains to a personal lines package policy. I recently had a client renew where the homeowner’s premium is escrowed through the mortgage company, and…

Question from an IIABNY member: “We have a situation where one of our insurance companies is non-renewing a commercial middle market client due to bankruptcy/Chapter 11. One of our other…

Question from an IIABNY member: “Can a carrier cancel a HO policy midterm because the insured has a shooting range out back? The carrier has been on them for 10+ years. The…