Common use of Additions/Deletions Clause in Contracts

Additions/Deletions. The Department reserves the right to request additions to or deletions from existing coverages or exposures stated in the Insurance Policy on behalf of the Named Insured when deemed to be in the State's best interest. Additions in coverage or exposure must be consistent with current policy rates, terms, and conditions unless the insurer can document that such addition results in an exposure change warranting a change in current policy rates, conditions, or terms. The Broker and Underwriter have 30 days from receipt of the Department’s request to accept or reject a new Named Insured to the State policy, provided all, previous and current coverage information, including loss history, has been provided. Upon acceptance by the Contactor and Underwriter, the Broker will invoice the Named Insured as indicated above. The Broker or Underwriter will provide premium refund checks to the Named Insured, as appropriate, when changes are made to individual Named Insureds schedules. Refund checks may be provided directly to the Named Insured. The Broker will provide a copy of all refund checks to the Department for the contract file.

Additions/Deletions. The Department reserves the right to request additions to or deletions from existing coverages or exposures stated in the Insurance Policy on behalf of the Named Insured when deemed to be in the State's best interest. Additions in coverage or exposure must be consistent with current policy Contract Insurance Policy rates, terms, and conditions unless conditions. However, the insurer is not required to accept the state’s addition if it can document that such addition results in an exposure change warranting a change in current policy Contract Insurance Policy rates, conditions, or terms. The Broker and Underwriter have 30 days from receipt of the Department’s additions request and receipt of all previous and current coverage information, including loss history, to accept or reject a new Named Insured to the State policy, provided all, previous and current coverage information, including loss history, has been provided. Upon acceptance by the Contactor and Underwriter, the Broker will invoice the Named Insured as indicated above. The Broker or Underwriter will provide premium refund checks to the Named Insured, as appropriate, when changes are made to individual Named Insureds schedules. Refund checks may be provided directly to the Named Insured. The Broker will provide a copy of all refund checks to the Department Department’s Contract Manager for the contract file.