Claims Provision. All insurance policies required by this Agreement must provide coverage on an “occurrence basis” for all claims arising from activities occurring during the term of the policy regardless of the date the claim is filed or expiration of the policy, unless otherwise agreed to in writing by the Treasurer. The policy for Errors and Omissions Insurance will provide coverage on a “claims made” basis, provided however, that such policy includes Extended Reporting Period or Tail Coverage acceptable to the Treasurer. If the Treasurer consents to any of the required insurance policies providing coverage on a “claims made” basis, “tail” coverage acceptable to the Treasurer will be required at the completion, expiration or termination of this Agreement for a duration of thirty-six (36) months, or the maximum time period reasonably available in the marketplace. Custodian shall furnish certification of “tail” coverage as described or continuous “claims made” coverage will be acceptable in lieu of “tail” coverage, provided its retroactive date is on or before the effective date of this Agreement set forth on page 2. If continuous “claims made” coverage is used, Custodian shall be required to keep the coverage in effect for a duration of not less than thirty-six (36) months from the completion, expiration or termination of the Agreement.
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Claims Provision. All insurance policies required by this Agreement must provide coverage on an “occurrence basis” for all claims arising from activities occurring during the term of the policy regardless of the date the claim is filed or expiration of the policy, unless otherwise agreed to in writing by the Treasurer. The policy for Errors and Omissions Insurance will provide coverage on a “claims made” basis, provided however, that such policy includes Extended Reporting Period or Tail Coverage acceptable to the Treasurer. If the Treasurer consents to any of the required insurance policies providing coverage on a “claims made” basis, “tail” coverage acceptable to the Treasurer will be required at the completion, expiration or termination of this Agreement for a duration of thirty-six (36) months, or the maximum time period reasonably available in the marketplace. Custodian Firm shall furnish certification of “tail” coverage as described or continuous “claims made” coverage will be acceptable in lieu of “tail” coverage, provided its retroactive date is on or before the effective date of this Agreement set forth on page 2. If continuous “claims made” coverage is used, Custodian Firm shall be required to keep the coverage in effect for a duration of not less than thirty-six (36) months from the completion, expiration or termination of the Agreement.
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