MIDORI LANDSCAPE, INC. 5A - 2012

Home Browse Search

C. The following is added and supersedes any provi- (2) The Commissioner of Insurance finds slons to the contrary: that the exposure to potential losses will NONRENIEWAL threaten our solvency or place us in a 2 rovisions of? Paragraphs C ect to the Sub t hazardous condition. A hazardous con- but Is not limited to a i l d diti . . p j . and C.3. below, if we elect hot to renew this , nc u es, on condition in which we make claims policy, we will mall or deliver written notice stet- payments for losses resulting from an Ing the reason for nonrenewal to the first earthquake that occurred within the pre- Named Insured shown in the Declarations and ceding two years and that required a ve- to the producer of record, at least 60 days, but duction in policyholder surplus of at not more than 120 days, before the expiration least 25% for payment of those claims; or anniversary date. or We will mail or deliver our notice to the first (3) We have: Named Insured, and to the producer of record, (a) Lost or experienced a substantial at the mailing address shown In the policy. reduction in the availability or scope 2. Residential Property of reinsurance coverage; or This provision applies to coverage on real (b) Experienced a substantial Increase property used predominantly for residential in the premium charged for reinsur- purposes and consisting of not more.than four ance coverage of our residential dwelling units, and to coverage on tenants' property Insurance policies; and household property contained in a residential If such coverage is written under one of unit the Commissioner has approved a plan , the following: for the nonrenewals that is fair and equi- table, and that is responsive t the Capital Assets Program Policy) Cover- (Output Y) changes in our reinsurance position n. age Part c- We will not refuse to renew such coverage Commercial Property Coverage Part solely because the first Named Insured has Part - Farm Pro Farm Farm Coverage party - cancelled or did not renew a policy, issued Dwellings, Appurtenant Structures And House- by the California Earthquake Authority that hold Personal Property Coverage Form included an earthquake policy premium a. We may elect not to renew such coverage surcharge. for any reason, except as provided In b., c. d. We will not refuse to renew such coverage and d. below: solely because corrosive soil conditions ex- b. We will not refuse to renew such coverage ist on the premises. This Restriction (d.) solely because the first Named Insured has applies only If coverage Is subject to one of accepted an offer of earthquake coverage. the following, which exclude loss or dam- the following applies only to in- However age caused by or resulting from corrosive , surers who are associate participating in- soil conditions: surers as established by Cal. Ins. Code (1) Capital Assets Program Coverage Form Section 10089.16. We m *y elect not to re- (Output Policy); new such coverage aftee the first Named (2) Commercial Property Coverage Part - Insured has accepted an offer of earth- Causes Of Loss - Special Form; or quake coverage, if one o? more of the fol- reasons applies: lowing (3) Farm Coverage Part -Causes Of Loss Form - Farm Property, Paragraph D. (1) The nonrenewal is based on sound Covered Causes Of Loss - Special. underwriting principles that relate to the coverages provided by this policy and 3. We are not required to send notice of nonre- that are consistent with the approved newel In the fallowing situations: rating plan and related documents filed a. If the transfer or renewal of a policy, without with the Department of Insurance as re- any changes in terms, conditions, or rates, quired by existing law; is between us and a member of our Insur- ance group. IL 02 70 09 08 0 ISO Properties, Inc., 2007 Page 3 of 4 13