Common use of Extended Reporting Periods Clause in Contracts

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 the Named Insured for the benefit of all Insureds. The request for such extended reporting period coverage must be made within one hundred and twenty (120) days of the termination of coverage. F. Only one such extended reporting period coverage endorsement shall be issued and the extended reporting period for such coverage shall be one year, three years, six years or unlimited. This period includes the automatic sixty (60) day period specified in Item C. above. G. The additional premium for the additional extended reporting period shall be based upon the rates for such coverage in effect on the date this Policy was issued or last renewed and shall be for one (1) year at 75% of such premium; three (3) years at 175% of such premium; six (6) years at 225% of such premium; or, for an unlimited period at 250% of such premium.

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 If this Policy is renewed under terms and conditions less favorable cancelled or nonrenewed by either the Company or by the Named Insured, the Company will provide to the Named Insured than those contained in the preceding policyan automatic, a sixty (60) day automatic extended reporting period will be granted to the Named Insured noncancelable Extended Reporting Period starting 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 Policy Period 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 not obtained another policy of the Named Insured for the benefit of all Insureds. The request for such extended reporting period coverage must be made errors and omissions insurance within one hundred and twenty sixty (12060) days of the termination of coverage. F. Only one such the Policy Period. This automatic extended reporting period coverage endorsement shall be issued and the extended reporting period for such coverage shall be one year, three years, six years or unlimited. This period includes the automatic will terminate after sixty (60) day period specified in Item C. abovedays. G. The additional premium for the additional extended reporting period shall be based upon the rates for such coverage in effect on the date B. If this Policy was issued is cancelled or last renewed and shall nonrenewed either by the Company or by the Named Insured, then the Named Insured will have the right to purchase an optional Extended Reporting Period of one, three, or five years. Such right must be for exercised by the Named Insured within sixty (60) days of the termination of the Policy Period by providing: (1) Written notice to the Company; and (2) With the written notice, the following amount of additional premium: (a) For a one (1) year at Extended Reporting Period, 75% of such premium; the annual premium for the Policy; (b) For a three (3) years at 175year Extended Reporting Period, 150% of such premiumthe annual premium for the Policy; six or (6c) years at 225For a five (5) year Extended Reporting Period, 200% of the annual premium for the Policy. The first sixty (60) days of the optional Extended Reporting Period, if it is purchased, shall run concurrently with the automatic Extended Reporting Period. C. The limit of liability of the Company for all Claims reported during the automatic and optional Extended Reporting Periods will be part of and not in addition to the limits of liability for the Policy Period set forth in Item 4. in the Declarations. D. There is no right to any Extended Reporting Period if the Company cancels or refuses to renew this Policy due to: (1) Nonpayment of amounts due under this Policy; (2) Noncompliance by the Insured with any of the terms and conditions of this Policy; (3) Any material misrepresentation or omission in the application or the supplementary information and statements provided by the Insured for this Policy. E. The Extended Reporting Period will not be construed to be a new policy and any Claim submitted during such premium; or, for an unlimited period at 250% of such premiumwill otherwise be governed by this Policy.

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 Automatic 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 If this Policy is canceled or non-renewed under terms and conditions less favorable by either the Company or by the Named Insured, the Company will provide to the Named Insured than those contained in the preceding policyan automatic, a sixty (60) day automatic non-cancelable extended reporting period will be granted to the Named Insured starting 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 policy period 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 not obtained another policy of the Named Insured for the benefit of all Insureds. The request for such extended reporting period coverage must be made lawyers professional liability insurance within one hundred and twenty sixty (12060) days of the termination of coverage. F. Only one such this Policy. This automatic extended reporting period coverage endorsement shall be issued and the extended reporting period for such coverage shall be one year, three years, six years or unlimited. This period includes the automatic will terminate after sixty (60) day period specified in Item C. abovedays. G. B. Optional extended reporting period 1. If this Policy is canceled or non-renewed by either the Company or by the Named Insured, then the Named Insured shall have the right to purchase an optional extended reporting period. Such right must be exercised by the Named Insured within sixty (60) days of the termination of the policy period by providing: a. written notice to the Company; and b. with the written notice, the amount of additional premium described below. 2. The additional premium for the additional optional extended reporting period shall be based upon the rates for such coverage in effect on the date this Policy was issued or last renewed and shall be for one one (1) year at 75100% of such premium; two (2) years at 150% of such premium; three (3) years at 175% of such premium; six (6) years at 225% of such premium; or, for an unlimited period at 250% of such premium. 3. The premium for the optional extended reporting period is due on its effective date. This optional extended reporting period is non-cancelable and the entire premium shall be deemed fully earned at its commencement without any obligation by the Company to return any portion thereof. C. Death or disability extended reporting period 1. If an Insured dies or becomes totally and permanently disabled during the policy period, then upon the latter of the expiration of the policy period; any renewal or successive renewal of this Policy; or any automatic or optional extended reporting period, such Insured shall be provided with a death or disability extended reporting period as provided below. a. In the event of death, such Insured's estate, heirs, executors or administrators must, within sixty (60) days of the expiration of the policy period, provide the Company with written proof of the date of death. This extended reporting period is provided to the estate, heirs, executors and administrators of such Insured. b. If an Insured becomes totally and permanently disabled, such Insured or Insured's legal guardian must, within sixty (60) days of the expiration of the policy period, provide the Company with written proof that such Insured is totally and permanently disabled, including the date the disability commenced, certified by the Insured's physician. The Company retains the right to contest the certification made by the Insured's physician, and it is a condition precedent to this coverage that the Insured agree to submit to medical examinations by any physician designated by the Company at the Company’s expense. This extended reporting period is provided until such Insured shall no longer be totally or permanently disabled or until the death of such Insured in which case subparagraph a. hereof shall apply. 2. No additional premium will be charged for any death or disability extended reporting period. D. Non-practicing extended reporting period 1. If an Insured retires or otherwise voluntarily ceases, permanently and totally, the “private practice of law” during the policy period and has been continuously insured by the Company for at least three consecutive years, then such Insured shall be provided with an extended reporting period commencing upon the latter of the expiration of: the policy period; any renewal or successive renewal of this Policy; or any automatic or optional extended reporting period. 2. This extended reporting period is provided until such Insured shall resume the “private practice of law” or until the death of such Insured in which case subparagraph C.1.a. hereof shall apply. 3. No additional premium will be charged for any non-practicing extended reporting period. As used herein, the “private practice of law” means the practice of law performed by an Insured for a fee, including hourly, contingent or lump sum, as a sole practitioner or as a partner, officer, director, stockholder- employee, associate, manager, member or employee, of a law firm, or any agreement to act as an independent contractor or “Of Counsel” to a law firm. “Private practice of law” does not include the practice of law by an Insured on an eleemosynary (a pro ▇▇▇▇) basis. E. Extended reporting periods limits of liability 1. Automatic and optional extended reporting periods limits of liability a. Where the Company has the right to nonrenew or cancel this Policy, and it exercises that right, then the Company's liability for all claims reported during the automatic and optional extended reporting periods shall be part of and not in addition to the limits of liability for the policy period as set forth in the Declarations and Section II, Limits of Liability of this Policy. b. If this Policy is canceled by the Named Insured or if the Company offers to renew this Policy, and the Named Insured refuses such renewal offer, then the Company’s liability for all claims reported during the automatic and optional extended reporting periods shall be reinstated to the limits of liability applicable to this Policy as set forth in Section

Extended Reporting Periods. As used hereina. The Trust will provide one or more Extended Reporting Periods, "extended reporting period" means as described below, if: (1) This coverage is canceled or not renewed; or (2) The Trust renews or replaces this coverage with coverage that: (a) Has a Retroactive Date later than the date shown in the Liability Coverage Declarations; or (b) Does not apply on a claims made basis. b. A Basic Extended Reporting Period is automatically provided without additional charge. This period starts with the end of time the Coverage Term and lasts for: (1) Three years for Claims arising out of a situation or circumstances reported to The Trust, not later than 60 days after the end of the policy period Coverage Term, in accordance with paragraph b. (1) of 7. Conditions; or (2) Sixty days for reporting claims all other Claims. The Basic Extended Reporting Period does not apply to Claims that are made against covered under any subsequent coverage a Covered Entity purchases, or that would be covered but for exhaustion of the Insured during the amount of coverage applicable extended reporting to such Claims. c. A Supplemental Extended Reporting Period of up to three years is available, but only by an endorsement and for an extra charge. This supplemental period by reason of an act or omission that occurred prior to starts sixty days after the end of the policy period and is otherwise covered by this Policy. A. Coverage Term. A Covered Entity must give The provisions Trust a written request for the endorsement within 60 days after the end of the extended reporting period coverage Coverage Term. The Supplemental Extended Reporting Period will not apply, except for go into effect unless a Covered Entity pays 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 contribution 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 the Named Insured for the benefit of all Insureds. The request for such extended reporting period coverage must be made within one hundred and twenty (120) days of the termination of coverage. F. Only one such extended reporting period coverage endorsement shall be issued and the extended reporting period for such coverage shall be one year, three years, six years or unlimited. This period includes the automatic sixty (60) day period specified in Item C. above. G. The additional premium for Trust will determine the additional extended reporting period shall be based upon contribution in accordance with The Trust's rules and rates. In doing so, The Trust may take into account the rates for such coverage in effect on the date this Policy was issued or last renewed and shall be for one following: (1) year at 75% The exposures covered; (2) Previous types and amounts of such premium; three coverage; (3) years at 175Limits of Coverage available under this coverage for future payment of damages; and (4) Other related factors. The additional contribution for a one, two or three year Supplemental Extended Reporting Period will not exceed 100%, 125% or 150%, respectively, of the annual contribution for this coverage. This endorsement shall set forth the terms, not inconsistent with this Section, applicable to the Supplemental Extended Reporting Period, including a provision to the effect that the coverage afforded for Claims first received during such premium; six period is excess over any other valid and collectible insurance available under policies in force after the Supplemental Extended Reporting Period starts. d. Extended Reporting Periods do not extend the Coverage Term or change the scope of coverage provided. They apply only to Claims for wrongful acts that occur before the end of the Coverage Term (6but not before the Retroactive Date, if any, shown in the Liability Coverage Declarations). Claims for such injury or damage which are first received and recorded during the Basic Extended Reporting Period (or during the Supplemental Extended Reporting Period, if it is in effect) years at 225% will be deemed to have been made on the last day of such premium; orthe Coverage Term. Once in effect, for an unlimited period at 250% Extended Reporting Periods may not be canceled. e. Extended Reporting Periods do not reinstate or increase the Limits of such premiumLiability applicable to any Claim to which this Coverage Document applies.

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 Automatic 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 If this Policy is canceled or non-renewed under terms and conditions less favorable by either the Company or by the Named Insured, the Company will provide to the Named Insured than those contained in the preceding policyan automatic, a sixty (60) day automatic non-cancelable extended reporting period will be granted to the Named Insured starting 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 policy period 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 not obtained another policy of the Named Insured for the benefit of all Insureds. The request for such extended reporting period coverage must be made professional liability insurance within one hundred and twenty sixty (12060) days of the termination of coverage. F. Only one such this Policy. This automatic extended reporting period coverage endorsement shall be issued and the extended reporting period for such coverage shall be one year, three years, six years or unlimited. This period includes the automatic will terminate after sixty (60) day period specified in Item C. abovedays. G. B. Optional extended reporting period 1. If this Policy is canceled or non-renewed by either the Company or by the Named Insured, then the Named Insured shall have the right to purchase an optional extended reporting period. Such right must be exercised by the Named Insured within sixty (60) days of the termination of the policy period by providing: a. written notice to the Company; and b. with the written notice, the amount of additional premium described below. 2. The additional premium for the additional optional extended reporting period shall be based upon the rates for such coverage in effect on the date this Policy was issued or last renewed and shall be for one (1) year at 75125% of such premium; two (2) years at 175% of such premium; three (3) years at 175225% of such premium; six (6) years at 225250% of such premium; or, for an unlimited period at 250300% of such premium. 3. The premium for the optional extended reporting period is due on its effective date. This optional extended reporting period is non-cancelable and the entire premium shall be deemed fully earned at its commencement without any obligation by the Company to return any portion thereof. C. Death or disability extended reporting period 1. If an Insured dies or becomes totally and permanently disabled during the policy period, then upon the latter of the expiration of: the policy period; any renewal or successive renewal of this Policy; or any automatic or optional extended reporting period, such Insured shall be provided with a death or disability extended reporting period as provided below. a. In the event of death, such Insured's estate, heirs, executors or administrators must, within sixty (60) days of the expiration of the policy period, provide the Company with written proof of the date of death. This extended reporting period is provided to the estate, heirs, executors and administrators of such Insured. b. If an Insured becomes totally and permanently disabled, such Insured or Insured's legal guardian must, within sixty (60) days of the expiration of the policy period, provide the Company with written proof that such Insured is totally and permanently disabled, including the date the disability commenced, certified by the Insured's physician. The Company retains the right to contest the certification made by the Insured's physician, and it is a condition precedent to this coverage that the Insured agree to submit to medical examinations by any physician designated by the Company at the Company’s expense. This extended reporting period is provided until such Insured shall no longer be totally or permanently disabled or until the death of such Insured in which case subparagraph a. hereof shall apply. 2. No additional premium will be charged for any death or disability extended reporting period. D. Non-practicing extended reporting period 1. If an Insured retires or otherwise voluntarily ceases, permanently and totally, the “private practice of law” during the policy period and has been continuously insured by the Company for at least three consecutive years, then such Insured shall be provided with an extended reporting period commencing upon the latter of the expiration of: the policy period; any renewal or successive renewal of this Policy; or any automatic or optional extended reporting period. 2. This extended reporting period is provided until such Insured shall resume the “private practice of law” or until the death of such Insured in which case subparagraph C.1.a. hereof shall apply. 3. If an Insured retires or otherwise voluntarily ceases, permanently and totally, the practice as a patent practitioner during the policy period and has been continuously insured by the Company for at least three consecutive years, then such Insured shall be provided with an extended reporting period commencing upon the latter of the expiration of: the policy period; any renewal or successive renewal of this Policy; or any automatic or optional extended reporting period. 4. This extended reporting period is provided until such Insured shall resume the practice as a patent practitioner or until the death of such Insured in which case subparagraph C.1.a. hereof shall apply. 5. No additional premium will be charged for any non-practicing extended reporting period 6. If an Insured is both a lawyer and a patent practitioner and has been continuously insured by the Company for at least three consecutive years, the non-practicing extended reporting period shall only be provided if the Insured retires or otherwise voluntarily ceases, permanently and totally, both the “private practice of law” and the practice as a patent practitioner. As used herein, the “private practice of law” means the practice of law performed by an Insured for a fee, including hourly, contingent or lump sum, as a sole practitioner or as a partner, officer, director, stockholder-employee, associate, manager, member or employee, of a law firm, or any agreement to act as an independent contractor or “Of Counsel” to a law firm. “Private practice of law” does not include the practice of law by an Insured on an eleemosynary (a pro ▇▇▇▇) basis. E. Extended reporting periods limits of liability 1. Automatic and optional extended reporting periods limits of liability a. Where the Company has the right to nonrenew or cancel this Policy, and it exercises that right, then the Company's liability for all claims reported during the automatic and optional extended reporting periods shall be part of and not in addition to the limits of liability for the policy period as set forth in the Declarations and Section II, Limits of Liability of this Policy. b. If this Policy is canceled by the Named Insured or if the Company offers to renew this Policy, and the Named Insured refuses such renewal offer, then the Company’s liability for all claims reported during the automatic and optional extended reporting periods shall be reinstated to the limits of liability applicable to this Policy as set forth in Section

Extended Reporting Periods. As used hereina. The Trust will provide one or more Extended Reporting Periods, "extended reporting period" means as described below, if: (1) This coverage is canceled or not renewed; or (2) The Trust renews or replaces this coverage with coverage that: (a) Has a Retroactive Date later than the date shown in the Liability Coverage Declarations; or (b) Does not apply on a claims-made basis. b. A Basic Extended Reporting Period is automatically provided without additional charge. This period starts with the end of time the Coverage Term and lasts for: (1) Three years for Claims arising out of a situation or circumstances reported to The Trust, not later than 60 days after the end of the policy period Coverage Term, in accordance with this Coverage Part; or (2) Sixty days for reporting claims all other Claims. The Basic Extended Reporting Period does not apply to Claims that are made against covered under any subsequent coverage a Covered Entity purchases, or that would be covered but for exhaustion of the Insured during the amount of coverage applicable extended reporting to such Claims. c. A Supplemental Extended Reporting Period of up to three years is available, but only by an endorsement and for an extra charge. This supplemental period by reason of an act or omission that occurred prior to starts sixty days after the end of the policy period and is otherwise covered by this Policy. A. Coverage Term. A Covered Entity must give The provisions Trust a written request for the endorsement within 60 days after the end of the extended reporting period coverage Coverage Term. The Supplemental Extended Reporting Period will not apply, except for go into effect unless a Covered Entity pays 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 contribution 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 the Named Insured for the benefit of all Insureds. The request for such extended reporting period coverage must be made within one hundred and twenty (120) days of the termination of coverage. F. Only one such extended reporting period coverage endorsement shall be issued and the extended reporting period for such coverage shall be one year, three years, six years or unlimited. This period includes the automatic sixty (60) day period specified in Item C. above. G. The additional premium for Trust will determine the additional extended reporting period shall be based upon contribution in accordance with The Trust's rules and rates. In doing so, The Trust may take into account the rates for such coverage in effect on the date this Policy was issued or last renewed and shall be for one following: (1) year at 75% The exposures covered; (2) Previous types and amounts of such premium; three coverage; (3) years at 175Limits of Coverage available under this coverage for future payment of damages; and (4) Other related factors. The additional contribution for a one, two or three year Supplemental Extended Reporting Period will not exceed 50%, 75% or 87.5%, respectively, of the annual contribution for this coverage. This endorsement shall set forth the terms, not inconsistent with this Section, applicable to the Supplemental Extended Reporting Period, including a provision to the effect that the coverage afforded for Claims first received during such premium; six period is excess over any other valid and collectible insurance available under policies in force after the Supplemental Extended Reporting Period starts. d. Extended Reporting Periods do not extend the Coverage Term or change the scope of coverage provided. They apply only to Claims for wrongful acts that occur before the end of the Coverage Term (6but not before the Retroactive Date, if any, shown in the Liability Coverage Declarations). Claims for such injury or damage which are first received and recorded during the Basic Extended Reporting Period (or during the Supplemental Extended Reporting Period, if it is in effect) years at 225% will be deemed to have been made on the last day of such premium; orthe Coverage Term. Once in effect, for an unlimited period at 250% Extended Reporting Periods may not be canceled. e. Extended Reporting Periods do not reinstate or increase the Limit of such premiumLiability applicable to any Claim to which this Coverage Document applies.