Enrolling in the Insurance Coverage Program
Eligibility, the Binding Election, and Coverage Effective Dates
Eligibility: You must have signed Simple Mining's Master Hosting Agreement (v1.0 or later). Prior agreement versions are not eligible.
Enrollment is a binding commitment. Once you submit enrollment, you are locked in through the Policy Term End Date (January 23, 2027). You cannot withdraw or cancel, even while carrier approval is pending. Billing accrues through that date regardless.
The monthly enrollment cycle: Simple Mining submits enrollments to the carrier monthly. Enrollments received by the 15th of a month are submitted that month, with coverage effective the 1st of the following month if approved. Enrollments received after the 15th may roll to the next cycle.
When coverage starts: Coverage is not in force until the carrier approves your enrollment AND the coverage effective date (1st of the month following approval) arrives. Simple Mining will notify you in writing once coverage is active.
If the carrier denies your enrollment: You will not be charged, no coverage exists, and you must re-enroll to try again. Simple Mining will not resubmit on your behalf.
If the carrier neither approves nor denies: The enrollment lapses on the 1st of the second calendar month after submission. You must submit a new enrollment.
Example: An enrollment submitted in June with no response by August 1 lapses automatically.