A. All policies written by the association shall contain a provision that guarantees the insured that the association shall issue, on the written demand of any insured to whom it has issued a claims-made policy, an occurrence rider comparable to that provided in the voluntary market.

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B. The premium for the occurrence rider shall not exceed the total amount that the insured would have paid for occurrence policies, if the occurrence policies had been issued to the insured by the association, less the total amount that the insured paid for claims-made policies issued to him by the association. However, if a majority of the directors of the association concludes that the occurrence rider premium would be inadequate, the directors may request the actuary provided for in section 20-2211 to determine whether a premium surcharge based on the experience of the policyholder should be required. Based on his actuarial opinion, the actuary may recommend to the director a premium surcharge of no more than ten per cent of the initial net occurrence rider premium. If the director approves a recommended surcharge, the surcharge shall be imposed no earlier than the end of the policy term. Individual policyholders may pay for an occurrence rider on a quarterly basis for a period of not to exceed two years. If the policyholder fails to make payment, the occurrence rider is void. A policyholder electing to pay for the occurrence rider on a deferred payment basis may be assessed a finance charge of not to exceed six per cent per year on the unpaid balance. A private insurer issuing a liability insurance policy on an occurrence or claims-made basis which replaces or begins coverage on the expiration of a policy issued by the association may provide liability coverage for acts or omissions by the insured which occurred during the period the association’s policy was in effect, excluding liability for any claim of injury or loss made to the association during the period.