(A) An employer whose application for subscription to the coal-workers' pneumoconiosis fund has been approved by the administrator of workers's compensation shall be issued a coal-workers' pneumoconiosis fund insurance policy upon payment of the initial premium required for such policy.
(B) Coverage under a coal-workers' pneumoconiosis fund insurance policy shall not be effective until the initial premium is received by the bureau of workers' compensation or its designee.
(C) Any policy of insurance issued by the coal-workers' pneumoconiosis fund shall expire at midnight on the expiration date stated on the face of the policy. Any such policy may be renewed by payment of the renewal premium. Payment of renewal premium within sixty days after the stated expiration date shall be effective to continue the coverage of the insured.
(D) Coverage with respect to claims filed on or after the effective date of this rule will be afforded in claims where the claimant's last exposure to the conditions causing the disease occurs both while in the employment of the subscriber and during a period of active subscription to the coal-workers' pneumoconiosis fund.