MLchartDataset catalogue

Basic extended reporting period BERP

Term · Insurance and risk management · MLC-T-INS-000531

A provision in a claims-made liability insurance policy that allows claims to be reported after the policy period ends, provided the incident occurred during the policy period. The basic extended reporting period (BERP) is typically automatic and free, lasting for a limited time, such as 60 days for reporting or five years for claims arising from reported incidents. It offers a short window for late claims.

Table 1. Record
IdentifierMLC-T-INS-000531
FieldInsurance and risk management
SubjectCommercial Liability
Record as JSON 
{
  "id": "MLC-T-INS-000531",
  "term": "Basic extended reporting period BERP",
  "field": "Insurance and risk management",
  "definition": "A provision in a claims-made liability insurance policy that allows claims to be reported after the policy period ends, provided the incident occurred during the policy period. The basic extended reporting period (BERP) is typically automatic and free, lasting for a limited time, such as 60 days for reporting or five years for claims arising from reported incidents. It offers a short window for late claims.",
  "subject": "Commercial Liability",
  "url": "https://mlchart.com/terminology/insurance/basic-extended-reporting-period-berp/"
}

Record 286 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.