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Design and Data InsureŒ Policy <br />2 2 <br />LIUI-AEC-AEX-CN001-NC (05/2015) <br />i. Determination by Commissioner that continuation of the policy would violate North Carolina <br />law; <br />j.Insured fails to meet requirements of Insurer’s charter. <br />The Insurer will mail or deliver written notice of cancellation to the Named Insured at the last address <br />known to the Insurer, at least thirty (30) days prior to the effective date of such cancellation. If the <br />Insurer cancels for non-payment of premium, notice of cancellation must be mailed at least fifteen (15) <br />days prior to the effective date of cancellation. <br />4.All notices of cancellation will state the reason for cancellation. <br />5.Notice of cancellation will state the effective date of cancellation. The policy period will end on that <br />date. <br />6.If notice is mailed, proof of mailing will be sufficient proof of notice. <br />7. If the Insurer cancels this policy, the earned premium shall be computed pro rata and the unearned <br />premium will be refunded to Named Insured prior to the effective date of cancellation. If the Named <br />Insured cancels this policy, the Insurer shall retain the customary short rate proportion of the premium. <br />Premium adjustment may be made either at the time cancellation is effected or as soon as practicable <br />after cancellation becomes effective, but payment or tender of unearned premium is not a condition of <br />cancellation. <br />B. NON-RENEWAL <br />1.The Insurer may non-renew the policy by mailing or delivering written notice to the Named Insured, at <br />the last mailing address known to the Insurer, at least forty-five (45) days prior to the effective date of <br />such non-renewal. If notice is mailed, proof of mailing will be sufficient proof of notice. <br />2. The notice of non-renewal will state the actual reason for non-renewal. <br />C.RENEWAL <br />The Insurer will mail or deliver to the Named Insured, at the last mailing address known to the Insurer, a forty- <br />five (45) days advance notice if the Insurer intends to renew the policy with a decrease in coverage, increase in <br />deductibles, imposing surcharge or increase in premium rate. <br />All other terms and conditions of the Policy remain unchanged. <br />Docusign Envelope ID: 016C7FF8-5EB3-4D21-A006-0A8906E60E75