REINSURANCE: An additional period of time affording coverage after termination of a claims-made policy during which a claim first made after such termination for injury or damage that occurs on or after the retroactive date, if any, but before the policy termination date is covered and may be reported. Also see Retroactive Date.
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UK: Period under a claims-made policy that provides a specific time, c.g. 60 days, after the policy has expired during which claims can be notified in respect of matters that occurred during the policy period. In some instances it is possible for the insured to purchase a longer period than that automatically included in the policy. The extended period does not respond in respect of claims otherwise insured. See DEEMING CLAUSE.
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See: Claims-made coverage.
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The period after the expiry of a claims made policy in which claims under that policy must be made if they are to be covered. It may be possible for an insured to extend this period on payment of an additional premium.