2014/11/19 Council Agenda Packet

15 4. If: 7. If this policy is cancelled, we will send a. You are an individual; - • the first Named Insured any premium re- b. A covered auto you own is of the fund due. If we cancel, the refund will be "private passenger type"; and pro rata. If the first Named Insured can- cels, the refund will be at least 90% of the c. The policy does not cover garage, pro rata refund unless the following ap- automobile sales agency, repair plies: shop, service station or public park- ing place operations hazards; a. For Division Two -Equipment Break- down, if the first Named Insured can- we may cancel the Commercial Auto- cels, the refund will be at least 75% mobile Coverage Part by mailing or of the pro rata refund. delivering to the first Named Insured and b. If: the first Named Insured's agent or broker written notice of cancellation, including (1) You are an individual; the actual reason for cancellation, to the (2) A covered auto you own is of the last mailing address known to us: "private passenger type"; a. At least 10 days before the effective (3) The policy does not cover ga- date of cancellation if we cancel for rage, automobile sales agency, nonpayment of premium; or repair shop, service station or b. At least 10 days before the effective public parking place operations date of cancellation for any other rea- hazards; and son if the policy is in effect less than (4) The first Named Insured cancels; 30 days; or the refund will be not less than 90% c. At least 20 days before the effective of any unearned portion not exceed- date of cancellation for other than ing $100, plus 95% of any unearned nonpayment if the policy is in effect portion over $100 but not exceeding 30 days or more; or $500, and not less than 97% of any d. At least 20 days before the effective unearned portion in excess of$500. date of cancellation if the policy is in The cancellation will be effective even if effect for 60 days or more or is a re- we have not made or offered a refund. newel or continuation policy, and the 8. If notice is mailed, proof of mailing will reason for cancellation is that your be sufficient proof of notice. driver's license or that of any driver B. Changes who customarily uses a covered "auto" has been suspended or The policy contains all the agreements be- revoked during policy period. tween you and us concerning the insurance 5. We will also mail or deliver to any mort afforded. The first Named Insured shown in gage holder, pledgee or other person the Declarations is authorized to make shown in this policy to have an interest in changes in the terms of this policy with our any loss which may occur under this poll consent. This policy's terms can be amended cy, at their last mailing address known to or waived only by endorsement issued by us and made a part of this policy. us, written notice of cancellation, prior to the effective date of cancellation. If can- C. Examination Of Your Books And Records cellation is for reasons other than those We may examine and audit your books and contained in Paragraph A.3. above, this records as they relate to this policy at any notice will be the same as that mailed or time during the policy period and up to three , delivered to the first Named Insured. If years afterward. cancellation is for a reason contained in D. Inspection And Surveys Paragraph A.3. above, we will mail or de 1. We have the right to: liver this notice at least 20 days prior to the effective date of cancellation. a. Make inspections and surveys at any 6. Notice of cancellation will state the effec- time; tive date of cancellation. The policy pe- b. Give you reports on the conditions riod will end on that date. we find; and c. Recommend changes. Page 2 of 4 © Insurance Services Office, Inc., 2010 IL 01 46 08 10 91