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Concept
Policy Renewal
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Summary
Policy Renewal
is the process of extending the term of an
Existing insurance policy
, often involving a
Review of the policy terms
and premiums. It ensures
Continuous coverage
for the policyholder while allowing the insurer to
Reassess risk
and
Adjust terms
accordingly.
Concepts
Insurance Underwriting
Risk Assessment
Premium Adjustment
Coverage Continuity
Policyholder Retention
Contractual Obligations
Renewal Notice
Grace Period
Policy Lapse
Renewal Conditions
Lapse In Coverage
Policy Period
Relevant Degrees
Insurance and Risk Sharing 70%
Forms of Enterprise 20%
Economic Law Subjects 10%
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