Once you’ve sold your business, you’ll need to notify your insurers. They will want to know about any possible liabilities that could arise once you’re no longer in business. Don’t gloss over the explanation too quickly; you’ll want to provide an honest and comprehensive response.
You may need to return the original policy or sign a “policy release” or “lost policy release.” But consult with your attorney before signing anything. You also will be responsible for paying any unearned premium.