Property & Casualty Exam Prep 66, Cancellation, Nonrenewal, and Policy Changes

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The critical difference between a mid-term cancellation and an end-of-term nonrenewal. - Why insurers have broader rights to cancel a policy within the first 60 days. - How premium refunds are calculated as pro-rata or short-rate depending on who cancels. - The universal requirement for insurers to provide advance written notice before termination. - That only the insurer can modify policy terms, which must be done via a written endorsement. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep