Notice of cancellation endorsement

{
  "id": "MLC-T-INS-002369",
  "term": "Notice of cancellation endorsement",
  "field": "Insurance and risk management",
  "definition": "An amendment added to an insurance policy that modifies the standard notice of cancellation provisions, often requiring the insurer to provide notice to an additional party with an insurable interest. This endorsement is frequently used when a third party, such as a mortgagee or lienholder, needs to be informed if the policy is terminated. It provides protection for the third party's financial stake in the insured property.",
  "url": "https://mlchart.com/terminology/insurance/notice-of-cancellation-endorsement/"
}