1. a change of limits;
2. a change in type of coverage;
3. a reduction of coverage;
4. an increased deductible or an addition of an exclusion;
5. increased premiums in excess of ten percent (10%) (exclusive of any premium increase generated as a result of increased exposure units pursuant to section II. above, or as a result of experience rating, loss rating, retrospective rating or audit); or
6. if this policy is an excess liability policy, the Company may also, consistent with regulations promulgated by the Superintendent, condition its renewal upon requirements relating to the underlying coverage, in which event the conditional renewal notice shall be treated as an effective notice of nonrenewal if such requirements are not satisfied as of the later of the expiration date of the policy or sixty (60) days after mailing or delivery of such notice.

B. The Company shall mail or deliver to the first Named Insured, at the address shown in the policy, and to such Insured's authorized agent or broker written notice of conditional renewal at least sixty (60) days, but not more than one hundred twenty (120) days in advance of the expiration date of the policy. However, if the notice is sent for an excess policy, it may be mailed or delivered at least thirty (30) days, but not more than one hundred twenty (120) days, in advance of the expiration date of the policy.
C. The notice of conditional renewal shall contain:
1. the specific reason or reasons for conditional renewal;
2. the amount of any premium increase or, where such amount cannot reasonably be determined as of the time the notice is provided, a reasonable estimate of the premium increase based upon the information available to the Company at that time and, in plain

and concise terms, the nature of any other proposed changes pursuant to subsection A. above.

V. Alternative Renewal
A. The Company may elect to mail or deliver on a timely basis an alternative renewal notice indicating its intention not to renew the policy or not to renew the policy upon the same terms, conditions or rates. Such notice shall advise the Named Insured that:
1. a second notice shall be mailed or delivered at a later date indicating the Company's intention not to renew or not to renew upon the same terms, conditions or rates;
2. coverage shall continue on the same terms, conditions and rates as the expiring policy, until the expiration date of the policy or sixty (60) days after the second notice is mailed or delivered, whichever is later, unless prior thereto the Named Insured has replaced the coverage or elects to cancel, in which event such cancellation shall be on a pro rata basis; and
3. loss information shall be available upon written request.
B. If the Company elects to nonrenew the policy, then it shall send notice to the Named Insured in accordance with Section III., Nonrenewal, above. If the Company elects to condition its renewal of the policy, then it shall send notice to the Named Insured in accordance with Section IV., Conditional Renewal, above.

VI. Late Notices of Nonrenewal or Conditional Renewal
A. If the Company provides a late notice of nonrenewal prior to the expiration date of the policy, then the coverage shall remain in effect, at the same terms and conditions of the expiring policy and at the lower of the current rates or the prior policy period's rates, until whichever of the following occurs first:
1. sixty (60) days after such notice is mailed or delivered;

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