Small Business Guide To Commercial Insurance

25 Are There Specific Rules on Commercial Insurance Cancellation and Nonrenewal? Commercial insurance companies must follow the rules set out in the insurance code regarding commercial insurance cancellation and nonrenewal. There are separate insurance code sections covering cancellation and nonrenewal for workers compensation, auto, ocean marine, surplus line, reinsurance policies, and other commercial insurance lines; therefore, it may be a good idea to contact the CDI for a complete explanation if you run into any problems with cancellation or nonrenewal notices. If you are unclear as to your rights under the insurance code, then contact the CDI by any of the methods given in the “Talk to Us” section of this brochure. In Summary Commercial insurance by its very nature is complex. However, it is possible with the assistance of a competent licensed broker-agent to steer clear of the pitfalls and make good decisions when purchasing insurance for your business. This brochure is meant to be a starting place for the small business owner investigating commercial insurance coverages. Throughout the brochure general information has been given on the greatest areas of concern when dealing with commercial insurance. If you desire further clarification on any commercial insurance topic, then please contact the CDI through the information given in the “Talk to Us” section. Also, this brochure has a “Resources” section as well as a “Glossary” that may be of further assistance to you in providing answers to questions you may have concerning commercial insurance.