Common use of Extended Reporting Period Clause in Contracts

Extended Reporting Period. If the policy is not renewed for any reason, or is cancelled for any reason other than for nonpayment of premium or deductible (whether cancelled by the Company or by the Named Insured), the Named Insured as shown in the Declarations, has the right to purchase, within thirty (30) days of policy termination, an extension of the coverage granted by this policy. This reporting period extension shall remain in force for a period of either twelve (12), twenty-four (24) or thirty-six (36) months after the policy terminates, but only for Claims resulting from negligent acts, errors or omissions, Advertising Liability or Personal Injury committed before the effective date of the cancellation or nonrenewal, and otherwise covered by this policy. Increased premiums or deductibles or modifications of coverage terms or conditions upon renewal do not constitute cancellation or nonrenewal. The premium for this Extended Reporting Period will not exceed one hundred percent (100%) for twelve months, one hundred fifty percent (150%) for twenty-four months or one hundred seventy-five percent (175%) for thirty-six months of the full annual premium set forth in the Declarations and any attached endorsements, and must be elected and paid within thirty (30) days after the effective date of the policy’s termination. Such additional premium is deemed fully earned immediately upon the inception of the Extended Reporting Period. The Extended Reporting Period is added by endorsement and, once endorsed, cannot be cancelled. The Extended Reporting Period does not reinstate or increase the Limits of Liability. The Company’s Limits of Liability during the Extended Reporting Period are part of, and not in addition to, the Company’s Limits of Liability stated in the Declarations.

Extended Reporting Period. If the policy is not renewed for any reason, or is cancelled for any reason other than for nonpayment of premium or deductible (whether cancelled by the Company or by the Named Insured), the Named Insured as shown in the Declarations, has the right to purchase, within thirty sixty (3060) days of policy termination, an extension of the coverage granted by this policy. This reporting period extension shall remain in force for a period of either twelve (12), twenty-four (24) or thirty-six (36) months after the policy terminates, but only for Claims resulting from negligent acts, errors or omissions, Advertising Liability or Personal Injury committed before the effective date of the cancellation or nonrenewal, and otherwise covered by this policy. Increased premiums or deductibles or modifications of coverage terms or conditions upon renewal do not constitute cancellation or nonrenewal. The premium for this Extended Reporting Period will not exceed one hundred percent (100%) for twelve months, one hundred fifty percent (150%) for twenty-four months or one hundred seventy-five percent (175%) for thirty-six months of the full annual premium set forth in the Declarations and any attached endorsements, and must be elected and paid within thirty sixty (3060) days after the effective date of the policy’s termination. Such additional premium is deemed fully earned immediately upon the inception of the Extended Reporting Period. The Extended Reporting Period is added by endorsement and, once endorsed, cannot be cancelled. The Extended Reporting Period does not reinstate or increase the Limits of Liability. The Company’s Limits of Liability during the Extended Reporting Period are part of, and not in addition to, the Company’s Limits of Liability stated in the Declarations.

Extended Reporting Period. If In the event of cancellation or nonrenewal of the policy, the Purchasing Group Member shall then have the right, in consideration of an additional premium equal to one hundred percent (100%) of the annual premium charged hereunder, to an extension of the Coverage granted by the policy, subject to its TERMS, INSURING AGREEMENTS, DEFINITIONS, EXCLUSIONS and CONDITIONS, in respect of any Claim first made against the Purchasing Group Member and reported in writing to the Company during the period of twelve (12) months after the cancellation or expiration date of the policy is not renewed for any reasonbut only when such Claim arises as a result of Professional Services rendered on or after the retroactive date and prior to the cancellation of the policy, or the expiration date as set forth in Item 2 of the GENERAL DECLARATIONS, whichever date is cancelled for any reason other than for nonpayment of premium or deductible (whether cancelled by the Company or by the Named Insured)earlier. To exercise this right, the Named Insured as shown Purchasing Group Member must give notice in the Declarations, has the right to purchase, writing within thirty (30) days of policy termination, an extension of the coverage granted by this policy. This reporting period extension shall remain in force for a period of either twelve (12), twenty-four (24) cancellation or thirty-six (36) months after the policy terminates, but only for Claims resulting from negligent acts, errors or omissions, Advertising Liability or Personal Injury committed before the effective expiration date of the cancellation or nonrenewal, policy to the Company and otherwise covered by this policy. Increased premiums or deductibles or modifications remit full payment of coverage terms or conditions upon renewal do not constitute cancellation or nonrenewal. The the premium for this Extended Reporting Period will not exceed one hundred percent (100%) for twelve months, one hundred fifty percent (150%) for twenty-four months or one hundred seventy-five percent (175%) for thirty-six months of to the full annual premium set forth in the Declarations and any attached endorsements, and must be elected and paid Company within thirty (30) days after of such notice. In the effective event or failure by the Purchasing Group Member to give such notice and remit such premium prior to such date, it shall not at a later date be able to invoke this extension. The mailing by the Purchasing Group Member by registered or certified mail of notice to the Company shall be sufficient proof of notice. In the event of the policy’s termination. Such additional purchase of the Extended Reporting Period, the entire premium is shall be deemed fully earned immediately upon at its commencement and the inception Company shall not be liable to return any portion of the premium paid for the Extended Reporting Period. The quotation by the Company of a different premium, Limit of Liability, Deductible or changes in policy Coverage for the purpose of renewal shall not constitute a refusal to renew by the Company. The purchase of the Extended Reporting Period is added by endorsement and, once endorsed, cannot be cancelled. The Extended Reporting Period does shall not reinstate or increase the Limits per claim or aggregate limit of Liability. The Company’s Limits of Liability during the Extended Reporting Period are part of, and not in addition to, the Company’s Limits of Liability liability as stated in Item 2 of the DeclarationsPROFESSIONAL LIABILITY DECLARATIONS.

Extended Reporting Period. If the policy is not renewed for any reason, or is cancelled for any reason other than for nonpayment of premium or deductible (whether cancelled by the Company or by the Named Insured), the Named Insured as shown in on the Declarations, has the right to purchase, within thirty sixty (3060) days of policy termination, an extension of the coverage granted by this policy. This reporting period extension shall remain in force for a period of either twelve (12), twenty-four (24) or thirty-six (36) months after the policy terminates, but only for Claims resulting from negligent acts, errors or omissions, Advertising Liability or Personal Injury committed before the effective date of the cancellation or nonrenewal, and otherwise covered by this policy. Increased premiums or deductibles or modifications of coverage terms or conditions upon renewal do not constitute cancellation or nonrenewal. The premium for this Extended Reporting Period will not exceed one hundred percent (100%) for twelve months, one hundred fifty percent (150%) for twenty-four months or one hundred seventy-five percent (175%) for thirty-six months of the full annual premium set forth in the Declarations and any attached endorsements, and must be elected and paid within thirty sixty (3060) days after the effective date of the policy’s termination. Such additional premium is deemed fully earned immediately upon the inception of the Extended Reporting Period. The Extended Reporting Period is added by endorsement and, once endorsed, cannot be cancelled. The Extended Reporting Period does not reinstate or increase the Limits of Liability. The Company’s Limits of Liability during the Extended Reporting Period are part of, and not in addition to, the Company’s Limits of Liability stated in the Declarations.

Extended Reporting Period. If the policy is not renewed for any reason, or is cancelled for any reason other than for nonpayment of premium or deductible (whether cancelled by the Company or by the Named Insured), the Named Insured as shown in on the Declarations, has the right to purchase, within thirty (30) days of policy termination, an extension of the coverage granted by this policy. This reporting period extension shall remain in force for a period of either twelve (12), twenty-four (24) ), or thirty-six (36) months after the policy terminates, but only for Claims resulting from negligent acts, errors or omissions, Advertising Liability or Personal Injury omissions committed before the effective date of the cancellation or nonrenewal, and otherwise covered by this policy. Increased premiums or deductibles or modifications of coverage terms or conditions upon renewal do not constitute cancellation or nonrenewal. The premium for this Extended Reporting Period will not exceed one hundred percent (100%) for twelve months, one hundred fifty percent (150%) for twenty-four months months, or one hundred seventy-five percent (175%) for thirty-six months of the full annual premium set forth in the Declarations and any attached endorsements, and must be elected and paid within thirty (30) days after the effective date of the policy’s termination. Such additional premium is deemed fully earned immediately upon the inception of the Extended Reporting Period. The Extended Reporting Period is added by endorsement and, once endorsed, cannot be cancelled. The Extended Reporting Period does not reinstate or increase the Limits of Liability. The Company’s Limits of Liability during the Extended Reporting Period are part of, and not in addition to, the Company’s Limits of Liability stated in the Declarations.

Extended Reporting Period. If the policy is not renewed for any reason, Insurers cancel or is cancelled for any reason other than for nonpayment of premium or deductible (whether cancelled by the Company or by the Named Insured)refuse to renew this Policy, the Named Insured as shown in the Declarations, has shall have the right to purchase, within thirty (30) days of policy termination, purchase an extension of the coverage granted by this policy. This reporting period extension shall remain in force for a period of either twelve (12), twenty-four (24) or thirty-six (36) months after the policy terminates, but only for Claims resulting from negligent acts, errors or omissions, Advertising Liability or Personal Injury committed before the effective date of the cancellation or nonrenewal, and otherwise covered by this policy. Increased premiums or deductibles or modifications of coverage terms or conditions upon renewal do not constitute cancellation or nonrenewal. The premium for this Extended Reporting Period will not exceed one hundred percent (100%) for twelve months, one hundred fifty percent (150%) for twenty-four months or one hundred seventy-five percent (175%) for thirty-six months of to apply to Claims first made against the full annual premium set forth in Insured and reported to the Declarations and any attached endorsements, and must be elected and paid within thirty (30) days after the effective date of the policy’s termination. Such additional premium is deemed fully earned immediately upon the inception of the Extended Reporting Period. The Extended Reporting Period is added by endorsement and, once endorsed, cannot be cancelled. The Extended Reporting Period does not reinstate or increase the Limits of Liability. The Company’s Limits of Liability Insurers during the Extended Reporting Period are for a period of one year for an additional premium of 100% of the total annual premium, but only with respect to Claims arising out of Wrongful Acts committed before the date of such cancellation or non-renewal. This Extended Reporting Period is subject to all other terms, conditions, limitations and endorsements of this Policy. If the Named Insured cancels or fails to renew this Policy, the Named Insured shall have the right to purchase an Extended Reporting Period to apply to Claims first made against the Insured and reported to the Insurers during the Extended Reporting Period for a period of one year for an additional premium of 125% of the total annual premium, but only with respect to Claims arising out of Wrongful Acts committed before the date of such cancellation or non-renewal. This Extended Reporting Period is subject to all other terms, conditions, limitations of and any endorsements to this Policy. As a condition precedent to the Named Insured's right to purchase the Extended Reporting Period, the full premium for this Policy and Policy Period must have been paid. The Named Insured's right to purchase the Extended Reporting Period must be exercised by notice in writing received by the Insurers not later than 30 days following the non-renewal or cancellation date of this Policy, and must include, within that same 30-day period, payment of premium for the applicable Extended Reporting Period. If such notice is not so given to the Insurers, the Named Insured shall not, at a later date, be able to exercise such right. At the commencement of any Extended Reporting Period, the entire premium thereafter shall be deemed earned. The Limits of Liability for the Extended Reporting Period shall be part of, and not in addition to, the Company’s Limits of Liability stated in for the DeclarationsPeriod of Insurance.

Extended Reporting Period. If the policy is Insured does not renewed for any reasonrenew or replace this insurance, or is cancelled if the Insurer cancels or refuses to renew this policy for any reason reasons other than for the nonpayment of premium or deductible (whether cancelled by Deductible or noncompliance with the Company terms and conditions of this policy or by fraud or material misrepresentation, upon the Named Insured)payment of an additional premium, the Named Insured as shown in shall have the Declarations, has option to extend the period by which a Claim can be made against the Insured and reported to the Insurer. The Insured’s right to purchase, within thirty (30) days of policy termination, an extension of purchase the coverage granted by this policy. This reporting period extension shall remain in force for a period of either twelve (12), twenty-four (24) or thirty-six (36) months after the policy terminates, but only for Claims resulting from negligent acts, errors or omissions, Advertising Liability or Personal Injury committed before the effective date of the cancellation or nonrenewal, and otherwise covered by this policy. Increased premiums or deductibles or modifications of coverage terms or conditions upon renewal do not constitute cancellation or nonrenewal. The premium for this Optional Extended Reporting Period will not exceed one hundred percent (100%) for twelve months, one hundred fifty percent (150%) for twenty-four months or one hundred seventy-five percent (175%) for thirty-six months of the full annual premium set forth in the Declarations and any attached endorsements, and must be elected and paid within exercised by notice in writing not later than thirty (30) days after the effective cancellation or termination date of this policy. Effective notice must indicate the total Optional Extended Reporting Period desired AND MUST INCLUDE PAYMENT OF PREMIUM FOR SUCH PERIOD. If such notice and the premium are not mailed to us within thirty (30) days, then the shall not at a later date be entitled to purchase an Optional Extended Reporting Period The premium for the Optional Extended Reporting Period shall be determined by charging (1) 100% of the annual premium for twelve (12) months, (2) 135% for twenty-four (24) months, or (3) 180% for thirty- six (36) months. The purchase of an Optional Extended Reporting Period shall be endorsed herein. The fact that the period during which Claims can be made against the Insured and reported to the Insurer is extended by virtue of the Optional Extended Reporting Period shall not in any way increase the Limits of Liability as shown in Item 3 of the Declarations of this policy. At the commencement of any Optional Extended Reporting Period, the entire premium therefore shall be deemed fully earned, and in the event the Insured terminates the Optional Extended Reporting Period before its term for any reason, we shall not be obligated to return to you any portion of the premium. The Insurer’s liability shall further be limited to cover only those Claims or Claim Expenses which arise out of the Insured providing or failing to provide Professional Services prior to the expiration date of the policy’s termination. Such additional premium is deemed fully earned immediately upon Policy Period or any earlier termination date, if applicable, and prior to the inception of the Optional Extended Reporting Period. The Extended Reporting Period is added Bringing of suits by endorsement and, once endorsed, cannot be cancelled. The Extended Reporting Period more than one person or organization does not reinstate or increase the Limits Insured’s Limit of Liability. The Company’s Limits Two or more Claims arising out of a single negligent act, error or omission or a series of related negligent acts, errors or omissions shall be treated as a single Claim, and shall be subject to one Limit of Liability during and only one Deductible. All such Claims, whenever made, shall be considered first made on the Extended Reporting Period are part of, and not in addition to, date on which the Company’s Limits of Liability stated in the Declarationsearliest Claim was first made.

Extended Reporting Period. If the policy is Insured does not renewed for any reasonrenew or replace this insurance, or is cancelled if the Insurer cancels or refuses to renew this policy for any reason reasons other than for the nonpayment of premium or deductible (whether cancelled by or noncompliance with the Company terms and conditions of this policy or by fraud or material misrepresentation, upon the Named Insured)payment of an additional premium, the Named Insured as shown in shall have the Declarations, has option to extend the period by which a Claim can be made against the Insured and reported to the Insurer. The Insured’s right to purchase, within thirty (30) days of policy termination, an extension of purchase the coverage granted by this policy. This reporting period extension shall remain in force for a period of either twelve (12), twenty-four (24) or thirty-six (36) months after the policy terminates, but only for Claims resulting from negligent acts, errors or omissions, Advertising Liability or Personal Injury committed before the effective date of the cancellation or nonrenewal, and otherwise covered by this policy. Increased premiums or deductibles or modifications of coverage terms or conditions upon renewal do not constitute cancellation or nonrenewal. The premium for this Optional Extended Reporting Period will not exceed one hundred percent (100%) for twelve months, one hundred fifty percent (150%) for twenty-four months or one hundred seventy-five percent (175%) for thirty-six months of the full annual premium set forth in the Declarations and any attached endorsements, and must be elected and paid within exercised by notice in writing not later than thirty (30) days after the effective cancellation or termination date of this policy. Effective notice must indicate the total Optional Extended Reporting Period desired AND MUST INCLUDE PAYMENT OF PREMIUM FOR SUCH PERIOD. If such notice and the premium are not mailed to us within thirty (30) days, then the shall not at a later date be entitled to purchase an Optional Extended Reporting Period The premium for the Optional Extended Reporting Period shall be determined by charging (1) 100% of the annual premium for twelve (12) months, (2) 135% for twenty-four (24) months, or (3) 180% for thirty- six (36) months. The purchase of an Optional Extended Reporting Period shall be endorsed herein. The fact that the period during which Claims can be made against the Insured and reported to the Insurer is extended by virtue of the Optional Extended Reporting Period shall not in any way increase the Limits of Liability as shown in Item 3 of the Declarations of this policy. At the commencement of any Optional Extended Reporting Period, the entire premium therefore shall be deemed fully earned, and in the event the Insured terminates the Optional Extended Reporting Period before its term for any reason, we shall not be obligated to return to you any portion of the premium. The Insurer’s liability shall further be limited to cover only those Claims or Claim Expenses which arise out of the Insured providing or failing to provide Professional Services prior to the expiration date of the policy’s termination. Such additional premium is deemed fully earned immediately upon Policy Period or any earlier termination date, if applicable, and prior to the inception of the Optional Extended Reporting Period. The Extended Reporting Period is added Bringing of suits by endorsement and, once endorsed, cannot be cancelled. The Extended Reporting Period more than one person or organization does not reinstate or increase the Limits Insured’s Limit of Liability. The Company’s Limits Two or more Claims arising out of a single negligent act, error or omission or a series of related negligent acts, errors or omissions shall be treated as a single Claim, and shall be subject to one Limit of Liability during and only one deductible. All such Claims, whenever made, shall be considered first made on the Extended Reporting Period are part of, and not in addition to, date on which the Company’s Limits of Liability stated in the Declarationsearliest Claim was first made.

Extended Reporting Period. If the policy is not renewed for any reason, or is cancelled for any reason other than for nonpayment of premium or deductible (whether cancelled by the Company or by the Named Insured), the Named Insured as shown in the Declarations, has the right to purchase, within thirty (30) days of policy termination, an extension of the coverage granted by this policy. This reporting period extension shall remain in force for a period of either twelve (12), twenty-four (24) or thirty-six (36) months after the policy terminates, but only for Claims resulting from negligent acts, errors or omissions, Advertising Liability or Personal Injury omissions committed before the effective date of the cancellation or nonrenewal, and otherwise covered by this policy. Increased premiums or deductibles or modifications of coverage terms or conditions upon renewal do not constitute cancellation or nonrenewal. The premium for this Extended Reporting Period will not exceed one hundred percent (100%) for twelve months, one hundred fifty percent (150%) for twenty-four months or one hundred seventy-five percent (175%) for thirty-six months of the full annual premium set forth in the Declarations and any attached endorsements, and must be elected and paid within thirty (30) days after the effective date of the policy’s termination. Such additional premium is deemed fully earned immediately upon the inception of the Extended Reporting Period. The Extended Reporting Period is added by endorsement and, once endorsed, cannot be cancelled. The Extended Reporting Period does not reinstate or increase the Limits of Liability. The Company’s Limits of Liability during the Extended Reporting Period are part of, and not in addition to, the Company’s Limits of Liability stated in the Declarations.

Extended Reporting Period. 1. Optional If the policy Policy is not renewed for any reason, or is cancelled canceled for any reason other than for nonpayment non-payment of premium or deductible (whether cancelled by the Company or by the Named Insured), the Named Insured as shown in is entitled to an automatic sixty-day (60) extended reporting period, but only for Claims resulting from negligent acts, errors or omissions, Advertising Liability or Personal Injury committed before the Declarationstermination date of the Policy and otherwise covered by this Policy. Alternatively, the Insured has the right to purchase, within thirty (30) days of policy termination, purchase an extension of the coverage granted by this policy. This reporting period extension shall remain in force Policy for a period of either twelve (12), twenty-four (24) or thirty-six (36) months after the policy Policy terminates, but only for Claims resulting from negligent acts, errors or omissions, Advertising Liability or Personal Injury committed before the effective termination date of the cancellation or nonrenewal, Policy and otherwise covered by this policyPolicy. Increased premiums premiums, and/or retention, or deductibles changes in, or modifications of coverage terms or conditions upon renewal do not constitute cancellation or nonrenewalnon-renewal. The premium for this Extended Reporting Period will not exceed one hundred percent (be priced between 100%) for twelve months, one hundred fifty percent (% and 150%) for twenty-four months or one hundred seventy-five percent (175%) for thirty-six months % of the full annual premium set forth in the Declarations and any attached endorsements, and must be elected and paid within thirty (30) days after the effective date of the policyPolicy’s termination. Such additional premium is deemed fully earned immediately upon the inception of the Extended Reporting Period. The Extended Reporting Period is will be added by endorsement andendorsement, and once endorsed, cannot be cancelled. The Extended Reporting Period does not reinstate or increase the Limits of Liability. The Company’s Limits of Liability during the Extended Reporting Period are a part of, and not in addition to, the Company’s Limits of Liability stated in the Declarations.