Common use of Extended Reporting Periods Clause in Contracts

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. 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-non- refundable and not cancellable. 3. If the “named insured”: