Multi-Year WA Cancellation Sample Clauses

Multi-Year WA Cancellation. If a multi-year WA is cancelled due to an action of the insured indicated in (1) of this subparagraph, the appropriate RO shall be notified by the AIP of the WA cancellation. The RO is not required to provide a letter of cancellation to the insured when the cancellation is initiated by the insured.
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Multi-Year WA Cancellation. If a multi-year WA is cancelled due to an action of the insured indicated in (1) of this subparagraph, the AIP which cancelled the policy shall notify the appropriate RO of the WA cancellation in writing (such as, e-mail, through XXX, etc.). The RO is not required to provide a letter of cancellation to the insured when the cancellation is initiated by the insured. (1) Multi-year WAs may be cancelled for any crop year by the insured or the AIP by providing written notification to the RO. The written notification to the RO must show that the request to cancel the WA was requested by the cancellation date specified in the policy or the WA, as applicable. In addition, when an insured cancels the policy: (a) to transfer to a policy/plan that is covered under a different BP, the insured effectively cancelled the WA by initiating the cancel and transfer even when insured with the same AIP. If the insured switches coverage within different plans under the same BP with the same AIP, the WA remains effective under the current plan of insurance if that plan of insurance was approved on the multi- year WA;
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Multi-Year WA Cancellation. If a multi-year WA is cancelled due to an action of the insured indicated in (1) of this subparagraph, the AIP which cancelled the policy shall notify the appropriate RO of the WA cancellation in writing (such as, e-mail, through XXX, etc.). The RO is not required to provide a letter of cancellation to the insured when the cancellation is initiated by the insured. (1) Multi-year WAs may be cancelled for any crop year by the producer or the AIP by providing written notification to the RO. The written notification to the RO must show that the request to cancel the WA was requested by the cancellation date specified in the policy or the WA, as applicable. In addition, when an insured cancels the policy:
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Multi-Year WA Cancellation. If a multi-year WA is cancelled due to an action of the insured indicated in (1) of this subparagraph, the AIP which cancelled the policy shall notify the appropriate RO of the WA cancellation in writing (e.g., e-mail, through XXX, etc.). The RO is not required to provide a letter of cancellation to the insured when the cancellation is initiated by the insured. (1) Multi-year WAs may be cancelled for any crop year by the insured or the AIP by providing written notification to the RO. The written notification to the RO must show that the request to cancel the WA was requested by the cancellation date specified in the policy or the WA, as applicable. In addition, the insured cancels the policy when: (a) the policy is transferred to a policy/plan covered under a different BP. In this case, the insured has effectively cancelled the WA by initiating the cancellation and transfer even when the insured remains with the same AIP. If the insured switches coverage plans but remains under the same BP with the same AIP, the WA remains effective under the current plan of insurance if that plan of insurance was approved on the multi-year WA; Example: In 2020, a producer accepted a multi-year WA (in effect until cancelled) which contained yield protection, revenue protection, and revenue protection with harvest price exclusion plans of insurance available. The producer had a revenue protection insurance plan in effect from 2020 to 2023. The insured transfers coverage from revenue protection to yield protection in 2024. Since both insurance plans are covered under the same BP the multi-year WA is still in effect. If the insured transfers to an area plan which is under a different BP, the insured effectively cancels the 2020 multi-year WA. (b) there is of a change in entity with a different tax identification number, the insured effectively cancelled the WA. The new entity would need a new WA (i.e., must submit a new WA request, since a renewal WA request is not applicable in this situation), or the existing terms of the policy and actuarial requirements will remain in effect; or Example: An insured accepted a multi-year WA in 2020 while under an individual policy with an SSN. In 2024, the insured cancels the individual policy and begins a policy as a corporation with a different tax identification number. The 2020 multi-year WA does not transfer to the corporation and the WA is cancelled along with the cancellation of the individual policy in which the WA was written for....
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