ANS All polices contain cancellation and non-re- newal provisions. A cancellation that occurs
before a policy has expired is known asa mid-term cancellation. A non-renewal occurs at the
expiration date of the policy when the insurer sends a notice prior to the expiration date of the
policy advising the insured that the policy will not be renewed.
11. Deductibles
ANS Self-insured part of an insured loss. Usually applies to first party claims such as property
claims or auto physical damage claims. The insured must bear this loss. Deducted from claims
payment before that amount is remitted to theclaimant.
12. Non-concurrency
ANS Situation that exists when the same property is coveredby more than one policy, but
the policies are not identical as to the extent of thecoverage provided.
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