(A) The administrator of the bureau of workers' compensation may cancel an employer's workers' compensation coverage if any of the following apply:
(1) The employer fails to pay the required premium by the annual renewal date in accordance with rule 4123-17-14 of the Administrative Code, and the employer's estimated annual premium is equal to the minimum administrative charge as set forth in rule 4123-17-26 of the Administrative Code;
(2) The employer's policy is in lapsed status, and the employer's policy has an accounts receivable balance of less than two hundred dollars, and as of the bureau's processing date, the employer's policy has no allowed claims filed against it within two years; or
(3) The employer is a new employer who failed to pay estimated premium and assessments when due.
(B) The effective date of cancellation shall be:
(1) For situations described in paragraphs (A)(1) and (A)(2) of this rule, the last date of the most recently completed policy year; or
(2) For situations described in paragraph (A)(3) of this rule, the original effective date of the policy.
(C) The administrator, for good cause shown, may retroactively cancel an employer's workers' compensation coverage. For purposes of this rule, "good cause" shall have the same meaning as in paragraph (B) of rule 4123-14-03 of the Administrative Code.
(D) An employer may cancel its workers' compensation coverage if all of the following criteria are met:
(1) The employer must notify the bureau in writing;
(2) One of the two following circumstances apply:
(a) The employer ceases operations in Ohio, or
(b) The employer no longer has employees as defined in division (A)(1)(b) of section 4123.01 of the Revised Code, and the employer agrees to cancel any supplemental or elective coverage as permitted under Chapter 4123. of the Revised Code;
(3) The employer must submit the number of employees employed within each of the employer's assigned manual classifications and the aggregate amount of wages paid to such employees to the bureau and reconcile any premium that is due for the policy year, and any other missing policy years, as set forth in rule 4123-17-14 of the Administrative Code.