required and coverage shall be terminated on the date
requested by the insured.
Nothing in this paragraph shall restrict the insurer's right
to rescind an insurance policy ab initio upon discovery that
the policy was obtained through fraudulent statements,
omissions or concealment of fact material to the acceptance
of the risk or to the hazard assumed by the company.
(4) The notice shall be clearly labeled "Notice of
Cancellation" or "Notice of Nonrenewal."
(5) A midterm cancellation or nonrenewal notice shall
state the specific reasons for the cancellation or
nonrenewal. The reasons shall identify the condition, factor
or loss experience which caused the midterm cancellation or
nonrenewal. The notice shall provide sufficient information
or data for the insured to correct the deficiency.
(6) A midterm cancellation or nonrenewal notice shall
state that, at the insured's request, the insurer shall
provide loss information to the insured for at least three
years or the period of time during which the insurer has
provided coverage to the insured, whichever is less. Loss
information on the insured shall consist of the following:
(i) Information on closed claims, including date and
description of occurrence, and amount of payments, if
any.
(ii) Information on open claims, including date and
description of occurrence, amount of payment, if any, and
amount of reserves, if any.
(iii) Information on notices of occurrence,
including date and description of occurrence and amount
of reserves, if any.
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