If a commercial insurer fails to meet the requirements of the forty-five days Notice of Nonrenewal Rule prior to the expiration date of the existing policy, the company MUST:

If a commercial insurer fails to meet the requirements of the forty-five days Notice of Nonrenewal Rule prior to the expiration date of the existing policy, the company MUST:


A.

extend the current policy for one year and waive the premium


B.

reduce coverage to develop a new premium that does not exceed the expiring policy's premium


C.

provide a renewal policy that matches the expiring policy's coverages and premium


D.

pay a $3,000 fine per violation to the Division of Insurance



Answer: C

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