Newly acquired entities

{
  "id": "MLC-T-INS-002308",
  "term": "Newly acquired entities",
  "field": "Insurance and risk management",
  "definition": "A provision in a commercial insurance policy that automatically extends coverage, for a limited time, to new organizations that the named insured acquires or forms during the policy period. This coverage is temporary, giving the insured time to report the new entity to the insurer and arrange permanent coverage. The policy specifies a time limit for reporting, such as 90 or 180 days, after which coverage for the new entity ceases if not formally added.",
  "url": "https://mlchart.com/terminology/insurance/newly-acquired-entities/"
}