Common use of Notices to Policyholders Clause in Contracts

Notices to Policyholders. i) The Insurer shall mail a Notice of Offer of Assumption and Novation to each assumed policyholder on December 1, 2016, with a copy to the agent. The Notice of Offer of Assumption and Novation must include an explanation of the differences, if any, between the TWIA coverage form and the Replacement Policy and an affirmative statement that the Replacement Policy provides generally comparable coverage and premiums. The notice must further disclose that a premium is “generally comparable” by statute if it does not exceed 115 percent of the TWIA premium. The Insurer must use the form of Notice of Offer of Assumption and Novation approved by the Department for use in the Program. The cost of providing the Notice of Offer of Assumption and Novation to TWIA policyholders to effectuate Assumption of the Removed Policies shall be borne solely by the Insurer.

Notices to Policyholders. i) The Insurer shall mail a Notice of Offer of Assumption and Novation to each assumed policyholder prior to or on December 1, 201620 _, with a copy to the agent. The Notice of Offer of Assumption and Novation must include an explanation of the differences, if any, between the TWIA coverage form and the Replacement Policy and an affirmative statement that the Replacement Policy provides generally comparable coverage and premiums. The notice must further disclose that a premium is “generally comparable” by statute if it does not exceed 115 percent of the TWIA premium. The Insurer must use the form of Notice of Offer of Assumption and Novation approved by the Department for use in the Program. The cost of providing the Notice of Offer of Assumption and Novation to TWIA policyholders to effectuate Assumption of the Removed Policies shall be borne solely by the Insurer.

Notices to Policyholders. i) The Insurer shall mail a Notice of Offer of Assumption and Novation to each assumed policyholder prior to or on December 1, 201620 , with a copy to the agent. The Notice of Offer of Assumption and Novation must include an explanation of the differences, if any, between the TWIA coverage form and the Replacement Policy and an affirmative statement that the Replacement Policy provides generally comparable coverage and premiums. The notice must further disclose that a premium is “generally comparable” by statute if it does not exceed 115 percent of the TWIA premium. The Insurer must use the form of Notice of Offer of Assumption and Novation approved by the Department for use in the Program. The cost of providing the Notice of Offer of Assumption and Novation to TWIA policyholders to effectuate Assumption of the Removed Policies shall be borne solely by the Insurer.