Policy Structure
Extended Reporting Period
A provision in a claims-made policy that extends the time during which claims can be reported after the policy has expired or been canceled. Most policies include a short automatic extended reporting period of 30 to 60 days, with optional supplemental periods available for purchase ranging from one year to unlimited duration.
Related terms
Claims-Made PolicyA type of insurance policy that provides coverage only when a claim is first reported to the insurer...Prior Acts DateAlso called the retroactive date, this is the earliest date from which a claims-made policy will cov...Tail CoverageAn informal name for an extended reporting period endorsement purchased when a claims-made policy is...