Required to terminate an insurance relationship. Formally speaking, cancellation is a unilateral declaration of intent to terminate an insurance contract for the future that must be received. A distinction is made between the following types of cancellation:

• → Ordinary cancellation
• → Extraordinary cancellation

Cancellation can generally be effected by the → Policyholder and through the → Insurer be pronounced.

Source reference: See VDT publication "VDT article series part 5 l Glossary" and the source indicated there.