A. After a policy has been in effect for sixty days or, if the policy is a renewal, effective immediately, a notice of cancellation is not effective unless it is based on the occurrence, after the effective date of the policy, of one or more of the following:

1. 1. Nonpayment of premium.
2. 2. Conviction of the named insured of a crime arising out of acts increasing the hazard insured against.
3. 3. Acts or omissions by the insured or the insured's representative constituting fraud or material misrepresentation in obtaining the policy, continuing the policy or presenting a claim under the policy.
4. 4. Discovery of grossly negligent acts or omissions by the insured substantially increasing any of the hazards insured against.
5. 5. Substantial change in the risk assumed by the insurer, since the policy was issued, except to the extent that the insurer should reasonably have foreseen the change or contemplated the risk in writing the contract.
6. 6. A determination by the director that the continuation of the policy would place the insurer in violation of the insurance laws of this state.
7. 7. Failure of the insured to take reasonable steps to eliminate or reduce any conditions in or on the insured premises that contributed to a loss in the past or will increase the probability of future losses.

H. For the purposes of this section:

1. 1. "Consumer reporting agency" has the same meaning prescribed in section 20-2102.
2. 2. "Insurance support organization" has the same meaning prescribed in section 20-2102.