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What is the provisional notice of cancellation in a reinsurance treaty's terms and condition?

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Question added by Mamoun elbaghir abdalla mhamad Eltayeb , Insurance agent / Producer , Albaraka Insurance Company
Date Posted: 2015/03/14
Mohammed Fouad Sedky
by Mohammed Fouad Sedky , Assistant General Manager , Fremir Reinsurance Services

(Provisional Notice Of Cancellation (PNOC

A notice provided by one party to the other party in a reinsurance treaty indicating that the treaty will not be renewed in the future. Provisional notice of cancellation (PNOC) is used in continuous reinsurance contracts to stop automatic renewal, and are most commonly used when one party does not agree to the

terms of renewal.

 

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https://www.irmi.com/articles/expert-commentary/should-i-stay-or-should-i-go-now

 

 

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