Supplemental extended reporting period (SERP)

{
  "id": "MLC-T-INS-003243",
  "term": "Supplemental extended reporting period (SERP)",
  "field": "Insurance and risk management",
  "definition": "An optional extension of coverage available under a claims-made liability insurance policy, allowing the insured to report claims for acts that occurred during the policy period but are discovered and reported after the policy has expired. This period, also known as a 'tail' coverage, extends the time for reporting claims beyond the basic extended reporting period. It is typically purchased for an additional premium.",
  "abbreviation": "SERP",
  "url": "https://mlchart.com/terminology/insurance/supplemental-extended-reporting-period-serp/"
}