RESCINDED OR VOIDED COVERAGE
There are occasions when the Excess Loss Insurance
Policy may be rescinded or considered null and void. If the Policy is
considered null and void, the Policyholder would need to reapply for
coverage and have the case re-underwritten prior to reinstatement of
coverage. If the Excess Loss Insurance Policy is voided, all premiums
received by SLG Benefits will be refunded directly to the Policyholder
along with a rescission notice. The following are some, but not
necessarily all, conditions that may cause the coverage to be null and
voided:
Failure To Return All Documents
If SLG Benefits does not receive all of the
documents required to issue the Policy within ninety (90) days after
the proposed Effective Date, then SLG Benefits, on behalf of the
insurance company, will void coverage back to the proposed
Effective Date.
Misrepresentations
All statements made by the Policyholder or a
representative of the Policyholder are, in the absence of fraud,
understood to be representations and not warranties. Such statements
will not be used to contest coverage unless contained in the
Application and Schedule or any attachments to the Application and
Schedule.
In case of a conflict between the Plan and the Policy, the Policy will
prevail. We rely on the information provided to us to issue the
Policy. The Policyholder represents this information is accurate.
Should subsequent information become known which, if known prior to
issuance of this Policy, would affect the premium rates, factors,
terms or conditions of coverage, we reserve
the right to revise the premium rates, factors, terms or conditions as
of the Effective Date by providing written notice to the Policyholder.
Any fraudulent statement will render this Policy null and void and
claims, if any, will be forfeited.
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