in certain kinds of insurance which are at the mercy of experience score, including workers payment insurance, the day that governs the application of rates and experience modifiers whenever a prior plan happens to be canceled midterm. It stops either the insured or perhaps the insurer from canceling a policy midterm to make the most of a more positive rate framework. Additionally could have application for changes of ownership or combinations of ownership. For a good example of how the anniversary rating time applies when it comes to a canceled policy, believe a workers payment policy is created for a 1-year term efficient January 1, 2007. It's consequently canceled and rewritten effective July 1, 2007. The latest plan would carry an anniversary rating date of January 1, 2008. The rates effective on July 1, 2007, when the brand-new plan is released, are those which were effective January 1, 2007, not those who are effective. On January 1, 2008, the anniversary rating time, the policy is recommended to utilize the rates and modifier efficient January 1, 2008. After that, if the new policy expires July 1, 2008, and is restored, the anniversary date becomes July 1 and remains that date until some event reasons the method to start throughout. See also Anniversary date.