; (B) changes in home value; and (C) optional coverages selected by the policyholder; (2) not increase premiums based on a change in the assessment by the insurer of the catastrophe peril risks associated with the insured property; (3) require property maintenance consistent with the condition of the property at time of initial policy issuance; and (4) require loss mitigation investment partnerships as a condition for the multi-year policy. (c) Actions by the policyholder (1) Policy continuation With the agreement of the insurer, a consumer purchasing the property during the term of the multi-year policy may continue the policy for the remainder of the term. (2) Election to new insurer If the policyholder elects to move to a new insurer during the term of the multi-year policy, the new insurer may pay the pro-rata share of the loss mitigation investment for the policyholder. (3) Cancellation by policyholder If the policyholder is the recipient of any funds for loss prevention property improvements from the insurer, Federal, State, local government, or other source and the policyholder cancels the policy before the end of the multi-year policy term, the policyholder shall return a pro-rata share of such improvement to the source of the funds. 7. Definitions In this Act: (1) All-perils property insurance policy The term all-perils property insurance policy means a property insurance policy approved by a State which includes coverage for catastrophe perils as such perils are added to the Program. (2) Catastrophe peril The term catastrophe peril means the damage caused by— (A) wind, hurricane, wildfire, severe convective storm, and flood as they are added to the Program under section 2(d); (B) earthquake, conditioned on the report under section 4(2)