Which scenario would require a Material Change notification to be filed?

A Material Change notification is necessary when there are significant alterations to the insurance policy or the risk involved that could impact the coverage or the insurer's liability. Adding another driver to the policy is a scenario that meets this criterion because it changes the risk profile associated with the vehicle and the policyholder. Additional drivers may have different driving records, levels of experience, or habits that could increase the likelihood of accidents or claims, thus influencing the insurer's assessment of the risk.

Changes such as altering the color of the vehicle, renewing a policy, or increasing coverage limits may not necessarily reflect a material change in risk. While they can affect the policy specifics, they do not fundamentally alter the risk that the insurer is covering. Therefore, they do not require a Material Change notification. In contrast, adding a driver demands a reevaluation of the policy for appropriate risk assessment and underwriting, thereby necessitating notification to the insurer.