POLICY COVERAGE TERM. Policies are normally to be issued for a term of up to one-year plus odd time not exceeding 18 months. In certain circumstances longer term policies may be underwritten for example companies in wind down and asset liquidation or where it is advantageous to BSU to lock in favorable terms for a longer period. Extended Reporting Policies can be written up to a total of 72 months and Extended Reporting Periods greater than 72 months are to be referred to CUO of BSU. The policy period will be controlled through LOA for policy periods greater than 18 months.
Appears in 3 contracts
Sources: Managing General Agency Agreement (Bowhead Specialty Holdings Inc.), Managing General Agency Agreement (Bowhead Specialty Holdings Inc.), Managing General Agency Agreement (Bowhead Specialty Holdings Inc.)