Extended Reporting Periods Clause Samples

Extended Reporting Periods. As used herein, "extended reporting period" means the period of time after the end of the policy period for reporting claims that are made against the Insured during the applicable extended reporting period by reason of an act or omission that occurred prior to the end of the policy period and is otherwise covered by this Policy. A. The provisions of the extended reporting period coverage will not apply, except for the sixty (60) day automatic extended reporting period if the claims- made relationship has been less than one year and this Policy has been terminated for nonpayment of premium or fraud. B. In the event of termination of coverage, or if this Policy is renewed under terms and conditions less favorable to the Named Insured than those contained in the preceding policy, a sixty (60) day automatic extended reporting period will be granted to the Named Insured at no charge in which any claim reported will be considered as having been made before the termination date of this Policy Upon termination of coverage, the aggregate limit of liability for this automatic extended reporting period shall be equal to the amount remaining in this Policy’s annual aggregate liability limit. C. Within thirty (30) days after termination, the Company will notify the Named Insured, in writing, of the automatic sixty (60) day extended reporting period. The Company will also notify the Named Insured of the availability of, the premium for, and the importance of purchasing an additional extended reporting period. If the claims-made relationship has been in effect for one year or more, and if this Policy has been terminated for nonpayment of premium or fraud, the Company shall not be required to provide a premium quotation unless requested by the Insured. D. The Named Insured shall have the greater of sixty (60) days from the effective date of termination of coverage or thirty (30) days from the date of mailing or delivery of the advice of the availability to purchase additional extended reporting period coverage, to submit written acceptance of the extended reporting period coverage. The premium for such additional extended reporting period must be paid promptly when due. The premium shall be fully earned at the inception of this endorsement. E. If the Named Insured has been placed in receivership, liquidation or bankruptcy, or permanently ceases operations, then any one qualifying as an Insured has the right to an extended reporting period coverage issued in the name of t...

Extended Reporting Periods. 1. If the “named insured” cancels or does not renew this policy, or if we non-renew or cancel this policy for reasons other than for non-payment of premium, the “named insured” is entitled to an Automatic Extended Reporting Period beginning the day after the end of the “policy period”, at no additional premium, and ending after 60 days. 2. The “named insured” may also elect to purchase an Optional Unlimited Extended Reporting Period. The required additional premium for the Extended Reporting Period is shown on the Declarations. To exercise this right, the “named insured” must provide written notice to us within 60 days of the end of the “policy period” stating which Extended Reporting Period option is selected along with full payment of the additional premium required. The premium for the Optional Extended Reporting Period is non-refundable and not cancellable. 3. If the “named insured”:

Extended Reporting Periods do not provide coverage for actions if you purchase subsequent insurance that applies to such actions.

Extended Reporting Periods apply only to claims for injury or damage to which this insurance applies that are first made against the Insured during such periods. Claims that are actually first made against the Insured during an Extended Reporting Period will be deemed to have been made on the last day of the Period of Insurance.

Extended Reporting Periods. Extended Reporting Periods provide additional time in which to report Claims that arise from Wrongful Acts which occur subsequent to the Retroactive Date as shown in Item 2B of the Declarations, but prior to the effective date of cancellation or nonrenewal of the policy . They do not extend the Policy Period or change the scope of coverage provided by the policy. Once in effect, Extended Reporting Periods may not be canceled. The Extended Reporting Periods shall be part of and not in addition to the Limits of Liability for the immediately preceding Policy Period. The Extended Reporting Periods shall not increase or reinstate the Limits of Liability,which shall be the maximum liability of the Insurer for the Policy Period and the Extended Reporting Periods, combined.

Extended Reporting Periods. Periods Apply A. apply only to claims for damages for financial injury caused by wrongful acts first committed on or after the Retroactive Date shown in the Declarations and before the end of the policy period.

Extended Reporting Periods. The Pool will provide one or more Extended Reporting Periods, as described below, if:

Extended Reporting Periods. If the Named Insured nonrenews this policy or cancels this policy pursuant to Section Other Conditions A., or if the Company nonrenews this policy pursuant to Section Other Conditions B. or cancels this policy pursuant to Section Other Conditions A., for reasons other than nonpayment of premium or Deductible or non-compliance with the terms and conditions of this policy, the Named Insured shall have the right to an extended reporting period as follows:

Extended Reporting Periods. Insured means: