020-7 Wyo. Code R. § 7-11

Current through April 27, 2019

Section 7-11 - Cancellation and Non-Renewal of Coverage

(a) The insured may cancel coverage by providing the Administrator a thirty day written notice.

(b) The Administrator after providing an insured thirty days written notice may cancel or refuse to renew coverage under one or more of the following conditions:

• (i) Misrepresentation, concealment or fraud: any material fact or circumstance which a person intentionally conceals or misrepresents, either in an effort to obtain insurance coverage or as a result of a loss.

• (ii) Exhaustion of the coverage amount appearing on the certificate of insurance.

• (iii) Exhaustion of the total amount of funds available to the mine subsidence insurance program.

• (iv) Refusal to permit re-inspection of an insured structure.

(c) A policy shall be cancelled if the full renewal premium is not paid within thirty days of the premium due date as it appears on the renewal premium notice.

(d) Policies shall be automatically cancelled if the aggregate becomes exhausted. Losses that have been reported will be settled on a pro-rata basis.

(e) An individual policy shall be automatically cancelled if a single claim exhausts the coverage limits as established in Section 7.

(f) Any refund of premium due an insured upon cancellation shall be paid on a pro-rata basis.

(g) Notice of a refusal to renew shall be furnished the insured person by mail at least thirty days prior to the renewal date.

020-7 Wyo. Code R. § 7-11

Amended, Eff. 6/29/2018.