20-1676
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20-1676. Notice of nonrenewal A. This article does not apply to the nonrenewal of insurance policies except as provided in subsection B. B. No nonrenewal of any policy of insurance to which this article applies is effective unless the insurer mails a copy of the notice of nonrenewal to the insured's agent and mails by certified mail written notice to the named insured, at the address shown in the policy or to the last known address of the insured, at least sixty days before the end of the policy period, of its intention not to renew the policy. The transfer of a policyholder between companies within the same insurance group or changes in deductibles, premium, amount of insurance or coverage are not refusals to renew. C. Notice of nonrenewal is not required if either of the following occurs: 1. The insurer or a company within the same insurance group has offered to issue a renewal policy. 2. The named insured has obtained replacement coverage or has agreed in writing to obtain replacement coverage. D. If an insurer provides the notice described in subsection B and the insurer subsequently extends the policy for ninety days at the request of the policyholder, an additional notice of nonrenewal is not required with respect to the extension. E. If the notice of nonrenewal is mailed less than sixty days before expiration, the coverage shall remain in effect until sixty days after the notice is mailed. Earned premium for any period of coverage that extends beyond the expiration date shall be considered pro rata based upon the previous year's rate. |