What does Lost Policy Release mean? Read on to discover the definition & meaning of the term Lost Policy Release - to help you better understand the language used in insurance policies.
Lost Policy Release
A statement signed by the named insured releasing the insurer from all liability under a lost or mislaid contract of insurance in cases in which the insured wishes to cancel the policy. At one time, many insurance policies required that the original policy be returned to the insurer to effect cancellation, and a lost policy release served in place of the original policy.
We hope the you have a better understanding of the meaning of Lost Policy Release.