Tail coverage

{
  "id": "MLC-T-INS-003274",
  "term": "Tail coverage",
  "field": "Insurance and risk management",
  "definition": "An optional provision added to a claims-made policy that extends the time for reporting claims after the policy has terminated. It covers claims made after the policy's expiration date, provided the wrongful act that led to the claim occurred while the policy was active. This extension, also known as an extended reporting period (ERP), can be purchased for a specific duration, such as one, three, or five years, or even indefinitely for an additional premium.",
  "subject": "Cyber and Privacy Liability",
  "url": "https://mlchart.com/terminology/insurance/tail-coverage/"
}