Changes in Premium Rates Clause Samples

Changes in Premium Rates. Any premium rate may be changed by the Insurer from time to time with at least thirty-one (31) days advance written notice. No change in rates will be made until six (6) Months after the Master Policy Effective Date. Thereafter, an increase in rates will not be made more often than once in a six (6) Month period. However, the Insurer may change rates immediately if, in the Insurer’s opinion, the Insurer’s liability is altered by any change in provincial or federal law or by a revision in the insurance under the policy. Any such change in rates will take effect on the effective date of the change in law or change in the insurance. No pro rata increases or decreases in rates for a single Month will be applied.