Extended Reporting Periods. The Contractor shall provide the County with a notice of the election to initiate any Supplemental Extended Reporting Period and the reason(s) for invoking this option.
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. 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. All coverage sections designated as claims-made are conditioned as follows if this policy is cancelled or not renewed for any reason, other than for non-payment of member contribution or non-compliance with the terms and conditions of this policy:
a. We will provide an Extended Reporting Period of thirty (30) days duration following immediately upon the effective date nonrenewal or cancellation, to apply to a claim brought forth under the applicable coverage section which is first made against you in writing to us but only by reason of a wrongful act, occu"ence, claim or wrongful employment practice act which first commences and was sustained subsequent on or after the retroactive date set forth in the declarations pages and prior to the effective date of this policy's cancellation or termination, and which is otherwise afforded by all coverages within this policy.
b. If, however, this policy is immediately succeeded by a similar claims-made insurance policy with any insurer, in which the retroactive date is the same as or earlier than that shown in the declarations pages of this policy, the succeeding policy shall be deemed to be a replacement of this policy, and the extended reporting period will not apply. Once in effect, an extended reporting period cannot be canceled.
c. The extended reporting period does not reinstate or increase the limit(s) of indemnification applicable to any coverages of this policy.
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. If the Named Insured does not renew this policy or cancels this policy pursuant to Section X. Other Conditions A., or if the Insurer does not renew this policy pursuant to Section X. Other Conditions B. or cancels this policy pursuant to Section X. 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:
Extended Reporting Periods. It is agreed that at any time prior to termination or cancellation of this Coverage Section, whether by a Covered Entity or by The Trust, a Covered Entity may give to The Trust notice that it desires to be covered for an additional period of twelve (12) months after the effective date of termination or cancellation. Upon The Trust's receipt of such notice and a Covered Entity's payment of an additional contribution of up to 50% of the annual Employee Benefit Plan Fiduciary Liability contribution, claims made against a Covered Party during the said twelve (12) month period by reason of a Wrongful Act committed or alleged to have been committed prior to the effective date of termination or cancellation and which would be otherwise covered by this Coverage Document would be considered made during the Coverage Term, subject to the following provisions.
a. Such additional period shall be deemed part of the Coverage Term and not an addition thereto:
b. Such additional period of time shall terminate on the effective date of any other insurance, coverage or indemnity obtained by the Covered Party, replacing in whole or in part the coverage afforded by this Coverage Part. Where such other insurance coverage or indemnity provides no coverage for loss sustained prior to its effective date, it shall not be deemed to be a replacement of this Coverage Document.
