We’ve recently updated the cancellation reasons in Assist as part of our ongoing work to improve our systems.
When cancellations are recorded under the correct category, it helps us build a clearer picture of why policies are being cancelled and to provide us with accurate insight. This ultimately supports better decision-making and future product development.
One of the main trends we’ve identified is mid-term changes being recorded as product suitability cancellations. For example, if an MTA is submitted to change the policyholder’s trade activities but the new activities fall outside of appetite, the correct reason is “Change in risk mid-term” rather than “Product did not match client’s needs”. The latter should only be used where the policy was never suitable from inception.
To support you, the table below sets out all the current cancellation reasons along with examples of when each should be selected:
Cancellation Reasons and When to Use Them
| Cancellation Reason | When to use it |
| Business no longer trading | The policyholder’s business has permanently ceased trading. |
| Cancelled due to non-payment/default | Cancellation due to unpaid premiums, following instruction from the broker or Finance Team. |
| Change in risk mid-term | A change in the customer’s circumstances or activities means their needs have changed, and cover is no longer suitable or required. |
| Cheaper quote elsewhere – MTA | The customer has found a cheaper policy elsewhere following a mid-term adjustment. |
| Cheaper quote elsewhere – NB/RNL | The customer has found a cheaper policy elsewhere within 14 days of inception or renewal. |
| Event cancelled or postponed | For Single or Multi Event policies where the insured event has been cancelled or postponed. |
| Moved to alternative product with CE | The customer has chosen to move to a different CE product (e.g. a Shop policyholder moving to a Hair & Beauty product). |
| Poor CE service/complaint | The customer is cancelling due to dissatisfaction with our service. |
| Poor claim service/complaint | The customer is cancelling due to dissatisfaction with claims handling or outcome. |
| Product did not match client’s needs/product misunderstood | The policy was never suitable from the outset (e.g. customer required subsidence cover which we cannot offer, or misunderstood the cover available). |
| Policy set up in error | The policy was incorrectly set up (e.g. placed under the wrong scheme, or renewed without customer instruction). |
| Property/Land/Business sold | The insured property, land, or business has been sold and is no longer owned by the policyholder. |
| Voidance or cancellation by insurers | The insurer has instructed cancellation or voidance of the policy. |
We’d appreciate your support in selecting the most accurate cancellation reason in Assist going forward. This will help ensure we capture the right information, make more informed product decisions, and continue to improve the service we provide to you and your clients.
If you have any queries on the cancellation reasons, please get in touch with your usual Commercial Express contact.
