Common use of Continuous Coverage Clause in Contracts

Continuous Coverage. For purposes of this Agreement, the term “Continuous Coverage” means the maintenance of required insurance from the Effective Date, continuing during the entire term of this Agreement and expiring not less than three (3) years following the expiration or earlier termination of this Agreement (the “Insurance Period”). If for any reason any insurance policy maintained by Group pursuant to this Section is terminated, reduced below the minimum coverage requirements set forth in this Article, not renewed or cancelled (whether by action of the insurance company or Group) prior to the expiration of the Insurance Period, Group shall: (i) cause a replacement insurance policy meeting the requirements of this Article to be in effect as of the effective date of the termination, reduction, non-renewal or cancellation of the prior insurance policy; and (ii) purchase either extended reporting coverage (i.e., “tail” coverage) or prior acts coverage (i.e., “nose” coverage) as necessary to meet the requirements of this Section. “Tail” coverage must provide for either an unlimited discovery/reporting period or a discovery/reporting period that would extend through the end of the Insurance Period, and “nose” coverage must provide for a retroactive discovery/reporting period at least as of the start of the Insurance Period.

Continuous Coverage. For purposes of this Agreement, the term “Continuous Coverage” means the maintenance of required insurance from the Effective Date, continuing during the entire term of this Agreement and expiring not less than three (3) years following the expiration or earlier termination of this Agreement (the “Insurance Period”). If for any reason any insurance policy maintained by Group Practitioner pursuant to this Section is terminated, reduced below the minimum coverage requirements set forth in this Article, not renewed or cancelled (whether by action of the insurance company or GroupPractitioner) prior to the expiration of the Insurance Period, Group Practitioner shall: (i) cause a replacement insurance policy meeting the requirements of this Article to be in effect as of the effective date of the termination, reduction, non-renewal or cancellation of the prior insurance policy; and (ii) purchase either extended reporting coverage (i.e., “tail” coverage) or prior acts coverage (i.e., “nose” coverage) as necessary to meet the requirements of this Section. “Tail” coverage must provide for either an unlimited discovery/reporting period or a discovery/reporting period that would extend through the end of the Insurance Period, and “nose” coverage must provide for a retroactive discovery/reporting period at least as of the start of the Insurance Period.