Nonpracticing extension

{
  "id": "MLC-T-INS-002350",
  "term": "Nonpracticing extension",
  "field": "Insurance and risk management",
  "definition": "An endorsement to a professional liability or malpractice insurance policy that provides coverage for claims arising from professional services rendered prior to retirement or cessation of practice. This extension is necessary because claims can emerge years after the professional activity ceased. It effectively extends the reporting period for past acts, similar to a tail coverage provision.",
  "url": "https://mlchart.com/terminology/insurance/nonpracticing-extension/"
}