What does Extended Reporting Period mean? Read on to discover the definition & meaning of the term Extended Reporting Period - to help you better understand the language used in insurance policies.
Extended Reporting Period
Period of time provided by the claims-made commercial general liability coverage form during which coverage will be provided for claims made after the expiration date of the policy if certain conditions are met; the basic ERP runs 60 days and can be extended to five years; the supplemental ERP runs for an unlimited duration, but is available only by endorsement for an additional premium.
We hope the you have a better understanding of the meaning of Extended Reporting Period.