Effect of order upon policies in effect at time of issuance

All policies, including bonds and other noncancellable business, other than life or health insurance or annuities, in effect at the time of issuance of an order of liquidation shall continue in force for the lesser of: (1) A period of thirty days from the date of entry of the liquidation orders; (2) The expiration of the policy coverage; (3) The date when the insured has replaced the insurance coverage with equivalent insurance coverage in another insurer or otherwise terminated the policy; or (4) The liquidator has effected a transfer of the policy obligation pursuant to §