Extended Reporting Period. In the event of non-renewal or cancellation of this Policy, either by the Company for any reason other than for non payment of premium or by the Insured, the Company will allow a time limit not exceeding thirty (30) days from the date of expiry or cancellation of the Policy provided no insurance is in force during this extended reporting period for the same interest, for notification of claims for Occurrences which had taken place during the Period of Insurance but claims thereof could not be made during the Policy Period, provided, however, all claims made during the extended reporting period shall be handled as if they were made on the last day of the expiring Policy Period and are subject to the limits of indemnity and the terms, conditions and exceptions of the Policy. The extended reporting period does not a. extend the Policy Period or change the scope of coverage provided; b. reinstate or increase the Limit of Indemnity; c. apply to claims that are covered under any subsequent insurance the Insured purchase, or that would be covered but for exhaustion of the amount of insurance applicable to such claims; d. apply to any injury, Wrongful Act, claim, Suit or other circumstance reported, in whole or in part, to the Company or any other insurer before the beginning of the Extended Reporting Period.
Appears in 6 contracts
Samples: Errors and Omissions Liability Insurance Policy, Errors and Omissions Liability Insurance Policy, Errors and Omissions Liability Insurance Policy
Extended Reporting Period. In the event of non-renewal or cancellation of this Policy, either by the Company for any reason other than for non non-payment of premium or by the Insured, the Company will allow a time limit not exceeding thirty (30) days from the date of expiry or cancellation of the Policy provided no insurance is in force during this extended reporting period for the same interest, for notification of claims Claims for Occurrences which had taken place during the Period of Insurance but claims Claims thereof could not be made during the Policy Period, provided, however, all claims Claims made during the extended reporting period shall be handled as if they were made on the last day of the expiring Policy Period and are subject to the limits of indemnity Liability and the terms, conditions and exceptions of the Policy. The extended reporting period does not
a. i. extend the Policy Period or change the scope of coverage provided;
b. ii. reinstate or increase the Limit of IndemnityLiability;
c. iii. apply to claims Claims that are covered under any subsequent insurance the Insured purchase, or that would be covered but for exhaustion of the amount of insurance applicable to such claimsClaims;
d. iv. apply to any injury, Wrongful Act, claimClaim, Suit or other circumstance reported, in whole or in part, to the Company or any other insurer before the beginning of the Extended Reporting Period.
Appears in 3 contracts
Samples: Insurance Policy, Insurance Policy, Insurance Policy
Extended Reporting Period. In the event of non-renewal or cancellation of this Policy, either by the Company for any reason other than for non payment of premium or by the Insured, the Company will allow a time limit not exceeding thirty (30) 30 days from the date of expiry or cancellation of the Policy Policy, provided no insurance is in force during this extended reporting period for the same interest, but only for notification of claims for Occurrences any Wrongful Act which had taken place during the Period of Insurance but claims thereof could not be made during the Policy Period. In case Insured request the extended reporting period to be longer than thirty (30) days, provided, however, all the same may be agreed and the Company shall receive the written notice of such election by the Insured together with payment of the additional premium due within thirty (30) days following the effective date of termination or nonrenewal. All claims made during the extended reporting period shall be handled as if they were made on the last day of the expiring Policy Period and are subject to the limits Limit of indemnity Indemnity and the terms, conditions and exceptions of the Policy. The extended reporting period does notperiod
a. does not extend the Policy Period or change the scope of coverage provided;
b. does not reinstate or increase the Limit of Indemnity;
c. does not apply to claims that are covered under any subsequent insurance the Insured purchase, or that would be covered but for exhaustion of the amount of insurance applicable to such claims;
d. apply . The offer of renewal term and conditions or premiums different from those in effect prior to any injury, Wrongful Act, claim, Suit or other circumstance reported, in whole or in part, renewal shall not constitute refusal to the Company or any other insurer before the beginning of the Extended Reporting Periodrenew.
Appears in 2 contracts
Samples: Directors & Officers Liability Insurance, Directors & Officers Liability Insurance