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The Non-Renewal Insurance Letter is a critical document in Nigerian insurance practice, designed to provide formal notification to policyholders about the upcoming non-renewal of their insurance coverage. This document is required under the Insurance Act 2003 and must be issued within the statutory notice period specified by Nigerian insurance regulations. The letter typically includes essential information such as policy details, expiration date, reasons for non-renewal (if applicable), and guidance for the policyholder regarding next steps. It serves multiple purposes: ensuring regulatory compliance, maintaining clear communication with policyholders, and providing documentary evidence of proper notification. Insurance companies must use this document when they decide not to continue coverage for various reasons, including changes in risk assessment, claims history, or business strategy. The format and content must align with NAICOM guidelines and Nigerian insurance law requirements.

1. Letterhead and Date: Company letterhead with full contact details and current date

2. Recipient Details: Full name and address of the insured party

3. Policy Information: Policy number, type of insurance, and current period of coverage

4. Non-Renewal Declaration: Clear statement of intent not to renew the insurance policy

5. Effective Date: Specific date when the current policy will expire and non-renewal takes effect

6. Reason for Non-Renewal: Brief explanation of the reason(s) for non-renewal, if applicable

7. Legal Notice Period Statement: Confirmation that this notice meets the required legal notice period under Nigerian law

8. Alternative Coverage Options: General advice about seeking alternative insurance coverage

9. Contact Information: Details of whom to contact for questions or further information

10. Closing and Signature: Professional closing, name and signature of authorized representative