Reso 2001-399 - Laserfiche WebLink

Home Browse Search

POLICY TERMINATION POLICY TERMINATION BY THE COMPANY. Until the premium rate has been in effect for at least 12 months, or any '3ter Rate Guarantee Date agreed upon by the Company; the Company may terminate this Policy on the due date of any premium if: 1. the number of Insured Employees totals less than 10; 2, part of the premium is paid by the Insured Employee and less than 75% of those eligible for coverage are insured; 3. all of the premium is paid by the Policyholder and less than 100% of those eligible for coverage are insured; 4. the Policyholder fails to promptly furnish any information which the Company may reasonably require; 5. the Policyholder, without good cause, fails to perform its duties pertaining to this Policy in good faith, 6. the Company's liability is changed as a result of any change in federal, state or local law which affects this Policy; 7, the Policyholder or any covered division, subsidiary or affIliated company relocates; 8, the Policyholder or any covered subsidiary or affIliated company dissolves or merges; 9, a division, subsidiary or affIliated company is added to or removed from this Policy; 10. any coverage for one or more classes of Insured Employees ceases to be provided under this Policy; 11. the number of Insured Employees changes by 25% or more from the number of Insured Employees on the date this Policy took effect, or the most recent Rate Guarantee Date expired, if later; or 12. the Employer ceases to be covered under the state Workers' Compensation program or any other program oflike intent. After the premium rate has been in effect for at least 12 months, or any later Rate Guarantee D'ate agreed upon by the Company; the Company may terminate this Policy on the due date of any premium, Such termination may be with respect to the Policy as a whole, to any coverage(s) provided under it, or to any class of Insured Employees covered under it. The Company will give the Policyholder at least 45 days' advance written notice of its intent to terminate this Policy. POLICY TERMINATION BY THE POLICYHOLDER. The Policyholder may terminate this Policy at any time by giving the ~ompany written notice. This Policy will then terminate on: 1. the date the Company receives the notice; or 2. some later date on which the Policyholder and the Company have agreed, However, termination will not become effective during any period for which premium has been paid to the Company. The Policyholder remains liable for the payment of premiums to the date of termination, AUTOMATIC POLICY TERMINATION. If any premium is not paid before the end of the Grace Period; then this Policy will terminate at the end of the Grace Period, without any action on the Company's part. The Policyholder remains liable for the payment of premiums to the date of termination. POLICY TERMINATION DURING DISABILITY. Termination of this Policy or an Employer's participation during a Disability shall have no effect on benefIts payable to the InsUred Employee for that period of Disability. GL3001-LID-10 98 FL 16 01/01/01