Notwithstanding any general or special law to the contrary, a midterm notice of cancellation of a workers’ compensation policy shall be effective only if based on one or more of the following reasons: (1) Nonpayment of premium; (2) Fraud or material misrepresentation affecting the policy or insured; and/or (3) A substantial increase in the hazard insured against. Nothing in this section shall limit an insurer’s right to refuse to renew a workers’ compensation policy.
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