Lynn Shatz 12/3/2019 - Laserfiche WebLink

OW es 8. 'f to, International Healthcare Professional Liability U T1(10rwrlt r ,, of the effective date of cancellation or the date of delivery of the Insured's notice of intent to cancel, subject always to the retention by the Company of any minimum premium stipulated herein (or proportion thereof previously agreed upon). The earned portion of the premium shall be computed on the customary short-rate basis unless any state law or regulation of the state shown in the mailing address of the Named Insured in the Declarations requires that return premium be computed on a pro-rata basis, even in the event of cancellation by the Named Insured. This insurance may also be canceled,with or without the return or tender of the unearned premium,by the Company or by its authorized representative on its behalf,by sending to the Named Insured,by first- class registered or certified mail, at the Named Insured's address last known to the Company or its authorized agent, not less than ninety (90) days written notice stating the specific reason for such cancellation and when the cancellation shall be effective. In such case,the Company shall refund the paid premium less the earned portion thereof within ten (10) business days after the effective date of cancellation, subject always to the retention by the Company of any minimum premium stipulated herein (or proportion thereof previously agreed upon) in the event of cancellation either by the Company or the Named Insured. In case of nonpayment of premium,only thirty(30) days written notice of cancellation must be given by the Company. Minimum premium shall not apply to the return of unearned premium if cancellation is by the Company. Cancellation by the Company shall only be effective if based on one or more of the following reasons: a. nonpayment of premium; b. the policy was obtained through material misrepresentation that was relied on by the Company,and such policy would not have been issued by the Company under the same terms and conditions if correct information had been disclosed; c. material failure to comply with any policy term,condition or contractual duty; d. the risk originally accepted has measurably increased;or e. loss by the Company of reinsurance which provided coverage for all or a substantial part of the risk insured. 2. NONRENEWAL The Company will renew this policy unless written notice of the Company's intent not to renew, stating the specific reasons for nonrenewal,is mailed to the Named Insured not less than ninety(90)days before the policy expires. "Nonrenewal"shall include the failure of the Company to offer a renewal policy which provides types and limits of coverage substantially equivalent to those contained in the expiring policy. 3. MAILING OF NOTICE Any notice of cancellation or nonrenewal will be mailed by first-class registered or certified mail to the Named Insured at the last mailing address known to the Company. Proof of mailing will be sufficient proof of notice. F. CHANGES The terms of this policy shall not be waived or changed, except by endorsement issued to form a part of this policy. G. DECLARATIONS By acceptance of this policy, the Insured agrees that the statements in the Declarations are the Insured's agreements and representations,that this policy is issued in reliance upon the truth of such representations and that this policy embodies all agreements existing between the Insured and the Company or any of its agents relating to this insurance. H. OTHER INSURANCE 13 15 HCPL-2037i(01/14)