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What is a policy release vs cancellation?

A lost policy release (LPR) is a statement that releases an insurance company from its liabilities. In the modern day, canceling an insurance policy no longer requires mailing back original policy documents, so lost policy releases are no longer necessary in most insurance cases.

What does policy release mean?

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.

What does policy release mean?

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.

What does LPR stand for in insurance?

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.

What does it mean to release a policy?

A Lost Policy Release is used to cancel a policy. It is also called a Cancellation/Lost Policy Release. This form, which the insured signs, releases the insurance company from any further responsibility.

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