Notice of circumstances during extended reporting period provision

{
  "id": "MLC-T-INS-002370",
  "term": "Notice of circumstances during extended reporting period provision",
  "field": "Insurance and risk management",
  "definition": "A clause in a claims-made insurance policy's extended reporting period (ERP) that requires the insured to report any known circumstances that could reasonably lead to a claim, even if no claim has yet been made. This allows potential future claims to be covered under the expiring policy, provided the circumstance is reported within the ERP. Failure to report a known circumstance during this period may result in a denial of coverage.",
  "url": "https://mlchart.com/terminology/insurance/notice-of-circumstances-during-extended-reporting-period-provision/"
}