Common use of POLICY CANCELLATION OR NON-RENEWAL Clause in Contracts

POLICY CANCELLATION OR NON-RENEWAL. The Insurer retains the right to cancel, modify or rescind the policy if statements on the application are found to be misrepresentations, incomplete or that fraud has been committed, leading the Insurer to approve an application when, with the correct or complete information, the Insurer would have issued a policy with restricted coverage or declined to provide insurance. The Insurer retains the right to cancel or modify a policy in terms of rates, deductibles or benefits, generally and specifically, if the Insured changes country of residence, regardless of how many years the policy has been in force. If an Insured resides in the U.S.A. on a continuous basis for more than one hundred and eighty (180) days during any three hundred and sixty five (365) day period regardless of the type of visa issued to the Insured for that purpose, then coverage for any condition will be limited to the Insurer’s Preferred Provider Network until the policy’s next renewal date at which time the policy will automatically terminate. Submission of a fraudulent claim is also grounds for rescission or cancellation of the policy. The Insurer retains the right to cancel, non-renew or modify a policy on a “class” basis as defined in this policy. No individual Insured shall be independently penalized by cancellation or modification of the policy due solely to a poor claim record.

POLICY CANCELLATION OR NON-RENEWAL. The Insurer retains the right to cancel, modify or rescind the policy if statements on the application are found to be misrepresentations, incomplete or that fraud has been committed, leading the Insurer to approve an application when, with the correct or complete information, the Insurer would have issued a policy with restricted coverage or declined to provide insurance. The Insurer retains the right to cancel or modify a policy in terms of rates, deductibles or benefits, generally and specifically, if the Insured changes country of residence, regardless of how many years the policy has been in force. If an Insured resides does not reside in the U.S.A. Suriname or Guyana on a continuous basis for more than one hundred and eighty (180) days during any three hundred and sixty five (365) day period regardless of the type of visa issued to the Insured for that purpose, then coverage for any condition will be limited to the Insurer’s Preferred Provider Network until the policy’s next renewal date at which time the policy will automatically terminate. Submission of a fraudulent claim is also grounds for rescission or cancellation of the policy. The Insurer retains the right to cancel, non-renew or modify a policy on a “class” basis as defined in this policy. No individual Insured shall be independently penalized by cancellation or modification of the policy due solely to a poor the claim record.