4) After issuance of the policy or after the last renewal date discovery of an act or omission, or a violation of any policy condition that substantially and materially increases the hazard insured against, and which occurred subsequent to inception of the current policy period;

5) Material change in the nature or extent of the risk, occurring after issuance or last annual renewal 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 the present premium volume of the company would jeopardize the company's solvency or be hazardous to the interest of the company's policyholders, creditors or the public;

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

8) if the policy provides professional liability insurance coverage, revocation or suspension of the insured's license to practice his profession or, if the insured is a hospital, it no longer possesses a valid operating certificate under section twenty-eight hundred one - a of the public health law.

2. Cancellation of Policies in Effect For More than 60 Days

If this policy has been in effect for more than 60 days, or if this policy is a renewal or continuation of a policy issued by us, the policy may be cancelled by us only for reasons listed in paragraph 1.b. above provided a written notice stating the reason for cancellation is mailed or delivered to you at your address shown in this policy, and your authorized agent or broker at least 15 days before the effective date of cancellation.

3. Non-Renewal of this Policy

a) NONRENEWAL

If we elect not to renew this policy, we shall send notice as provided in paragraph 4. below along with the reason for nonrenewal.

b) CONDITIONAL RENEWAL

If we condition the renewal of this policy by:

1. Change of limits;
2. Change in type of coverage;
3. Reduction of coverage;
4. Increased deductible;
5. Addition of exclusion or exclusions; or
6. An increased premium in excess of 10% exclusive of any premium increased due to increased exposures; or as a result of experience rating, retrospective rating or audit;

We shall send notice as provided in paragraph 4 below.

4. NOTICES OF NONRENEWAL AND CONDITIONAL RENEWAL

If we decide not to renew this policy or to conditionally renew this policy as provided in paragraphs 3b. above, the company shall mail or deliver written notice to the named insured 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;

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 no longer desired.

Condition F – (DUTIES IN THE EVENT OF OCCURRENCE, CLAIM OR SUIT) is deleted and replaced with the following:

F. DUTIES IN THE EVENT OF OCCURRENCE, CLAIM OR SUIT:

1. You must see to it that we receive, as soon as reasonably possible, written notice of an occurrence which may result in a claim. Notice should include:

a) How, when and where the occurrence took place;