what is a lost policy release lpr 
a lost policy release lpr is a statement releasing an insurance company from its liabilities an lpr is signed by the insured party and signifies that the policy in question has been lost or destroyed or is being retained historically an insured party that wanted to cancel an insurance policy would have to produce the original insurance documents that the insurance company created when the policy was underwritten if the policy was lost or misplaced the insured would then have to demonstrate that the policy is still being canceled and this was done with a lost policy release the lost policy release is used to signify that the policyholder is canceling the policy intentionally understanding lost policy releases lpr lost policy releases generally have standard language that is a holdover from the past generally such releases carry the option of either releasing or cancelling a policy while they sound different both options are in effect the same lost policy releases are not necessary in most modern insurance cases and do not require mailing back the original policy documents the exception might be an auto insurer for instance that might get a policyholder to sign a lost policy release if they are switching over to a different auto insurance provider once this form is signed the insurer is no longer liable for reimbursing losses to the policyholder though this form would more than likely be filled out online different types of cancellation lost policy releases