When the insurance is cancelled depends on the time frame established by the statute of the state in which the finance company is licensed or operates:
- In all states, a Notice of Pending Cancellation is mailed to the insured at least ten (10) days prior to the date when a cancellation is to be ordered – giving the insured time to make their payment.
- AIS’s Epitome® System is programmed to make sure that you’re in compliance with these statutes.
The producer is notified by fax of the late notice so that they can contact their insured to try to retain the account.
