Wallace received a letter from the insurer informing him they will not offer coverage beyond the expiration date of his current policy. This means the insurer decided to do what?

When an insurer informs a policyholder that they will not offer coverage beyond the expiration date of the current policy, it indicates that the insurer has chosen not to renew the policy. In this situation, the policy will automatically terminate at the end of its term, meaning Wallace will no longer have coverage once the current policy expires.

Non-renewal can occur for various reasons, including changes in risk, underwriting guidelines, or the insurer's business strategy. Unlike cancellation, which terminates a policy before its expiration date, non-renewal takes effect at the end of the policy period, allowing the policyholder to seek alternative coverage if necessary. Understanding this distinction is critical, as it impacts the policyholder's options moving forward.