anniversary date of the policy, which causes the risk of loss to be substantially and materially increased beyond that contemplated at the time the policy was issued or last renewed;

(6) Required pursuant to a determination by the Superintendent that continuation of our present premium volume would jeopardize our solvency or be hazardous to the interest of our policyholders, our creditors or the public; or

(7) A determination by the Superintendent that the continuation of the policy would violate, or would place us in violation of any provision of the Insurance Code; or

(8) If one or more of the underlying insurance policies is cancelled and is not replaced without lapse; or

(9) Where we have reason to believe, in good faith and with sufficient cause, that there is a probable risk or danger that you will destroy, or permit to be destroyed, the insured property for the purpose of collecting the insurance proceeds, provided, however, that:

(a.) A notice of cancellation of this ground shall inform the insured in plain language that you must act within ten days if review by the Superintendent of the ground for cancellation is desired according to item (iii) of this subparagraph;

(b.) Notice of cancellation on this ground shall be provided simultaneously by us to the Superintendent; and

(c.) Upon written request of the insured made to the Department of Financial Services within ten days from your receipt of notice of cancellation on this ground, the Superintendent shall undertake a review of the ground for cancellation to determine whether or not we have satisfied the criteria for cancellation specified in this subparagraph; if after such review the Superintendent finds no sufficient cause for cancellation on this ground, the notice of cancellation on this ground shall be deemed null and void.

c. If we cancel for nonpayment of premium, our written notice of cancellation will include the premium amount due.

3. The policy period will end on the day and hour stated in the cancellation notice.

4. If this policy is cancelled, the final premium will be calculated pro rata based on the time this policy was in force.

5. Premium adjustment may be made at the time of cancellation or as soon as practicable thereafter but the cancellation will be effective even if we have not made or offered any refund due you. Our check or our representative's check, mailed or delivered, will be sufficient tender of any refund due you.

F. SECTION V. CONDITIONS, E. Nonrenewal is deleted in its entirety and replaced with the following:

1. If we decide not to renew this policy, we will send notice as provided in paragraph 2. below along with the reason(s) for nonrenewal.

If we condition renewal of this policy upon:

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 as a result of experience rating, retrospective rating or audit;

We will send notice as provided below.

2. If we decide not to renew this policy or to conditionally renew this policy as provided in F.1. above, we will mail or deliver written notice to you not less than Thirty (30) days but not more than one hundred, twenty (120) days before:

a. The expiration date; or
b. The anniversary date if this is a continuous policy.
c. Notice will be mailed or delivered to you at the address shown in the policy, and to your authorized agent or