Common use of Annual Premium Rate Adjustment Requests Clause in Contracts

Annual Premium Rate Adjustment Requests. ‌ Insurer shall provide an annual premium rate adjustment request for the upcoming Contract Year to FHKC by December 1 of each year unless there are no additional Renewal years available under the Contract or this provision is otherwise waived by FHKC. In the annual premium rate adjustment request, Insurer may request to reduce premium rates, make no change to premium rates, increase premium rates, or any combination thereof for the Regions in Insurer’s Service Area. Failure to comply with the requirements of section 2.8 may result in the denial of a premium rate adjustment request without recourse at FHKC’s sole discretion.

Annual Premium Rate Adjustment Requests. ‌ Insurer shall provide an annual premium rate adjustment request for the upcoming Contract Year to FHKC by December July 1 of each year unless there are no additional Renewal years available under the Contract or this provision is otherwise waived by FHKC. In the annual premium rate adjustment request, Insurer may request to reduce premium rates, make no change to premium rates, increase premium rates, rates or any combination thereof for the Regions in Insurer’s Service Area. Failure to comply with the requirements of section 2.8 3-3-3 may result in the denial of a premium rate adjustment request without recourse at FHKC’s sole discretion.