unilateral extended reporting period provision
The unilateral extended reporting period provision is found in a claims-made policy and allows the insured to purchase an extended reporting period (ERP) only if the insurer decides to cancel or nonrenew the policy.
unilateral extended reporting period provision
The unilateral extended reporting period provision is found in a claims-made policy and allows the insured to purchase an extended reporting period (ERP) only if the insurer decides to cancel or nonrenew the policy.
Additional Information
This is also known as a "one-way" extended reporting provision.
Synonyms
one-way extended reporting period
