basic extended reporting period (BERP)
The 60-day and 5-year extended reporting periods automatically provided to
the insured by the 1986 ISO claims-made CGL policy when a claims-made policy
is canceled, not renewed, renewed with a laser exclusion, renewed on a basis
other than claims-made, or renewed with an advanced retroactive date. BERPs
are also included in some claims-made professional liability policies. In professional
liability policies, BERPs extend the reporting period for 30 to 60 days at no
additional charge when the insurer cancels or nonrenews the policy. In a few
instances, they are offered when the insured cancels or nonrenews the policy.
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