# Conditions (continued)

## New York Laws

The terms of this policy as respects coverage for operations in the State of New York shall conform to the coverage requirements of the applicable insurance laws of the State of New York or the applicable regulations of the New York Insurance Department; provided, however, that loss covered by this insurance is always in excess of the underlying limits of insurance and subject to the Limits of Insurance of this policy as stated in Item 4 of the Declarations.

## Nonrenewal

1. If we decide not to renew this policy we will send notice as provided in paragraph 3. below along with the reason for nonrenewal.
2. If we conditionally renew this policy subject to:
   a. Change of limits;
   b. Change in type of coverage;
   c. Reduction of coverage;
   d. Increased deductible;
   e. Addition of exclusion; or
   f. Increased premiums in excess of 10%, exclusive of any premium increase due to and commensurate with insured value added or increased exposure units; or as a result of experience rating, loss rating, retrospective rating or audit; we will send notice as provided in paragraph 3. below.
3. If we decide not to renew this policy or to conditionally renew this policy as provided in paragraphs 1. and 2. above, we will mail or deliver written notice to the first named insured shown in the Declarations at least 60 but not more than 120 days before:
   a. The expiration date; or
   b. The anniversary date if this is a continuous policy.
4. Notice will be mailed or delivered to the first named insured at the address shown in the policy and to the authorized agent or broker. If notice is mailed, proof of mailing will be sufficient proof of notice.
5. We will not send you notice of nonrenewal or conditional renewal if you, your authorized agent or broker or another insurer of yours mails or delivers notice that the policy has been replaced or is no longer desired.
6. If we send the first named insured an incomplete or late conditional renewal notice or a late nonrenewal notice as provided for in paragraph 3. above, coverage will remain in effect at the same terms and conditions of this policy until 60 days after such notice is mailed or delivered, unless the first named insured elects to cancel sooner.

Form 07-02-1022 (Ed. 5/94)
Contract
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