Extended Reporting Coverage Sample Clauses
The Extended Reporting Coverage clause provides insurance policyholders with the ability to report claims that arise from incidents occurring during the policy period, even if the claim is made after the policy has expired or been cancelled. Typically, this coverage is offered as an optional add-on, often referred to as "tail coverage," and is especially relevant for claims-made liability policies such as professional liability or errors and omissions insurance. By allowing additional time for reporting claims, this clause protects insured parties from gaps in coverage that could otherwise leave them exposed to liability for late-reported incidents.
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Extended Reporting Coverage. If any of the liability insurance is arranged on a “claims made” basis, Extended Reporting coverage will be required at the completion of this Agreement to a duration of 24 months or the maximum time period the Consultant’s insurer will provide if less than 24 months. Consultant will be responsible for furnishing certification of Extended Reporting coverage as described or continuous “claims made” liability coverage for 24 months following Agreement completion. Continuous “claims made” coverage will be acceptable in lieu of Extended Reporting coverage, provided its retroactive date is on or before the effective date of this Agreement. Coverage will be endorsed to provide a per project aggregate.
Extended Reporting Coverage. (“Tail Coverage”). For Professional Liability/Errors & Omissions Insurance written on a “claims made” basis and for any other required liability insurance provided on a “claims made” basis, Contractor shall provide “tail” coverage at the completion of the contract for a duration of thirty-six (36) months or continuous “claims made” liability coverage provided for thirty-six (36) months following contract completion. Continuous “claims made” coverage will be acceptable in lieu of “tail” coverage provided the retroactive date of the coverage is on or before the effective date of this contract.
Extended Reporting Coverage. After twenty-four (24) months of continuous excess coverage with the PLF, upon termination or cancellation of this Excess Plan by either the Firm or the PLF, the Firm may be eligible to purchase an extended reporting endorsement. This endorsement extends the period within which a Claim may be First Made under this Excess Plan, but does not otherwise change the terms of this Plan. Eligibility to purchase an extended reporting endorsement, the amount of the additional assessment for such coverage and the period during which Claims may be First Made under the endorsement are determined by the PLF’s underwriting department based on the Firm’s claims experience and other underwriting factors.
Extended Reporting Coverage. If any of the aforementioned liability insurance is arranged on a “claims-made” basis, Extended Reporting coverage will be required at the completion of this contract for a duration of 24 months. Consultant will be responsible for furnishing certification of Extended Reporting coverage as described or continuous “claims-made” liability coverage for 24 months following contract completion.
Extended Reporting Coverage