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PREMIUM PROVISIONS <br /> PAYMENT OF PREMIUMS <br /> Premiums for this Policy must be received on or before Premium Due Date , as shown on the Schedule , at <br /> SAFECO's Home Office . Payment of premium will continue Excess Loss coverage only until , but not <br /> I <br /> ncluding , the next Premium Due Date . <br /> If the Participating Employer chooses to use any third party to pay premium on its behalf, such third party <br /> is the agent of the Participating Employer and the Participating Employer is responsible for ensuring that <br /> the premium is received by SAFECO . SAFECO will not be held liable for any act or omission of the third <br /> party. <br /> GRACE PERIOD <br /> If premium is not received on the Premium Due Date , a 31 day grace period will be granted starting from <br /> and including the Premium Due Date . If premium is not received at the end of the 31 days , this Policy will <br /> terminate on the last date of coverage for which premium has been paid . <br /> CHANGES IN PREMIUM RATES AND MONTHLY AGGREGATE ATTACHMENT FACTORS <br /> SAFECO has the right to establish new Premium Rates and Monthly Aggregate Attachment factors on <br /> each Participating Employer Anniversary Date . <br /> SAFECO will provide the Participating Employer a 31 day advance written notice in the event of any <br /> change in premium rates or Monthly Aggregate Attachment Factors at renewal <br /> SAFECO has the right to establish new Premium Rates and new Monthly Aggregate Attachment Factors <br /> at any time during a Policy Period if: <br /> a . the number of enrolled Covered Units changes by more than 25 % from the Enrollment shown on <br /> the Schedule ; <br /> b . SAFECO discovers an individual who was not disclosed and whom SAFECO determines to be an <br /> unacceptable risk; <br /> c . an amendment is made to the Employee Benefit Plan ; or <br /> d , a change in the terms of Excess Loss coverage occurs . <br /> RENEWAL RATING PROVISION <br /> SAFECO reserves the right to change the Premium rates and/or Monthly Aggregate Attachment Factors <br /> for a Policy Period if the average Paid Claims for the last two Policy Months of the immediately preceding <br /> Policy Period exceeds 125% of the average Paid Claims for all prior Policy Months in that preceding <br /> Policy Period . <br /> LGC 8817 03/02 <br />