Contract of insurance "renews" automatically without either insured
or insurer having an obligation to act. This renewal happens at a predetermined
date, calculated by deducting the "notice period" (most often
expressed in a number of days) from the anniversary date of the contract. These
"notice periods" can also vary by both country jurisdiction and
coverage line of business. For example, in Germany, a 93-day notice period is
required; for Canada, that notice period is only 15 days and only for
automobile lines of coverage. The obligation to notify the current insurer that
coverage is not being renewed has some complexities as well. In some countries,
the local client (not the corporate home office) is required to notify the
insurance company of intent not to renew.