The need for abbreviation
Within the insurance industry, terms such as "Mori" will be used very frequently when speaking with colleagues. The reason to abbreviate terms like Moratorium is to enable faster internal communications between professionals. We wouldn't typically expect a broker to use this abbreviation with a client, as it adds a layer of additional complexity and could confuse people. If you are speaking with someone who uses this phrase or something else that seems alien, please ask them to explain what they mean, as it's important you understand your policy.
What's an NMori?
Again, "NMori" is broker language for "New Moratorium", which typically signifies that a client is starting a fresh 2-year moratorium with their insurer.
As the founder and editor of myTribe Insurance, the role of Chris Steele is to ensure that the information we provide is of the highest quality and value to those who read it.
