Section R. 408.42b - Termination of insurance; specified construction site insurance policyRule 12b.
(1) A notice of termination for coverage of an employer under an insurance policy covering the specified construction where the cost of construction will be more than $65,000,000.00 and the contemplated completion period will be 5 years or less, must be reported to the agency on form WC-401A, notice of termination of liability for employer under specific risk policy.(2) The insurer shall mail a copy of the notice to the employer. If the employer is a partnership, then the notice must state the names and addresses of all the partners. If the employer is doing business under an assumed name, then the notice must state the assumed name and the names of all parties doing business under the assumed name. If the employer is a corporation doing business under a number of divisions, then the notice must state the name of the employer and the divisions of the corporation covered by the termination. If the business changes names, then notice must be given stating both the new and former names. Notice of termination of a policy that has expired may not be reported when the specific risk carrier has accepted responsibility under a further or renewal policy, except for an assured's name change. The termination notice must be filed with the agency at Lansing, Michigan, not less than 20 days before the effective date of any termination or cancellation of the policy with respect to the employer. The notice must give the date of termination or cancellation of the contract or policy with respect to the employer. Termination or cancellation of the specific risk policy takes effect, with respect to the employees of the insured employer, 20 days after notice of a proposed termination or cancellation is received by the agency.Mich. Admin. Code R. 408.42b
1980 AACS; 1998-2000 AACS; 2021 MR 23, Eff. 12/10/2021