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2. We do not have to renew the insurance if you do <br />not pay the renewal premium billing by the due <br />date or if you accept replacement insurance, are <br />insured elsewhere, requested or agree to <br />nonrenewal, or if the policy is expressly <br />designated as being nonrenewable. <br />3. If we renew the insurance, we may use the <br />policy forms, rates and rating plans we are then <br />using for similar risks. We may limit the policy to <br />a term equivalent to the term of the expiring <br />policy or one year, whichever is less. <br />4. If we offer to renew the insurance on less <br />favorable terms, we will mail or deliver written <br />notice of the new terms by first class mail to you, <br />the policy holder, at least sixty (60) days prior to <br />the renewal date. The definition of "terms" does <br />not include manual rates, experience <br />modification factors, or classification of risks. <br />If we provide such notice within sixty (60) days <br />prior to the renewal date, the new terms will not <br />take effect until sixty (60) days after the notice is <br />mailed or delivered, in which case, you, the <br />policy holder, may elect to cancel the renewal <br />policy at any time during the sixty (60) day <br />period. The notice will include a statement of <br />your right to cancel. If you elect to cancel the <br />renewal policy during the sixty (60) day period, <br />the return premium or additional premium <br />charges shall be calculated proportionally on the <br />basis of the old premiums. <br />We need not mail or deliver this notice if the <br />only change adverse to you is a premium <br />increase that; (a) is less than 25%; or, (b) results <br />from a change based on your action that alters <br />the nature and extent of the risk insured against, <br />including, but not limited to, a change in the <br />classifications for the business. <br />Any written agreement attached to and made a part of the policy, between the insurance carrier and policyholder <br />which extends the cancellation or nonrenewal notification timeframe, will supercede the aforementioned notification <br />requirements found in items A.3., and B.1., respectively. <br />Countersigned by <br />Form WC 48 06 06 B Printed in U.S.A. <br />ew cF RAMwagementDMsian <br />Jy/\'x REVIEWED & APPROVED BY.- <br />V"° <br />--� Risk janagement Analyst <br />