Did you know that there is a difference between an insurer cancelling a policy and choosing not to renew it? Cancellation means termination of the policy. It can be done either by the insurer or the insured before the end of the policy period. However, the non-renewal case arises after a policy has served a period of a year or so. Here, it is up to the insured or the insurer to decide whether the policy could be renewed or not while it expires.
Nine big financial changes that you must watch out for in October
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