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Jun 9, 2023 · A termination date is the day an insurance policy ends. It can be a scheduled date, such as the end of a one-year auto insurance policy. In addition, it may also be unscheduled in the event one party no longer wants coverage or if the insured is no longer eligible, such as an employee who is fired.
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In order to understand the expiration date on your business insurance policy, look for key information such as the policy term, effective date, and termination clause. The policy term specifies the duration of coverage, typically in one-year increments.
Insurance Termination Date means, with respect to any particular Insurance Policy maintained by LSI Logic on behalf of SSI under Section 2.1, the earlier of (i) the date on which LSI Logic ceases to own securities of SSI representing in excess of 50% of the voting power of all outstanding securities of SSI and (ii) the date on which SSI ceases ...
Feb 20, 2023 · Nonrenewal of a policy refers to the termination of a policy at the expiration date. If an insurer decides it does not want to renew your policy, it must mail or deliver to you a nonrenewal notice at least 60 days before the policy's expiration date.
Jul 13, 2017 · A flat cancellation occurs as of the policy effective date, meaning the insurance company has not assumed liability and the paid premium is returned in full. Example: Let’s say you signed an agreement with an effective date of 1/1.
Nov 8, 2017 · Although the law typically requires strict compliance with these provisions, there is an important distinction between cases where an insurer cancels a policy and cases where the policy simply expires by its own terms due to the insured’s failure to remit his or her premium payment.
In contract drafting terminology, many attorneys define “termination date” to be the date that one of the parties ends (or terminates) a contract. Many contracts have clauses that permit the parties to terminate a contract earlier than originally contemplated.
