CAA Contract ALUMBAUGH 2019 - Laserfiche WebLink

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a. If this Policy is canceled or non -renewed by the Named Insured or us for any reason, or if an Insured is otherwise eligible for an extended reporting period option as set forth in sections H.2. or H.3. below, we shall, upon written request of the Named Insured, make an offer of an extended reporting period for the terminated coverage, subject to the following terms and conditions: (1) The Named Insured must make the request to us in writing, and pay the additional premium, if any, within sixty (60) days of cancellation or non -renewal of this Policy, or in the alternative, within the time periods set forth for the extended reporting period options under H.2. or H.3. below; and, (2) Any extended reporting period, and all claims reported thereunder, shall be subject to all terms and conditions of this Policy. b. Any extended reporting period: (1) Must be evidenced by an endorsement issued by us in writing; (2) Will provide the Named Insured with an additional period of time as set forth in the endorsement to report claims first made or brought against an Insured during the policy period or during the extended reporting period; (3) Shall not constitute a new policy; (4) Shall not reinstate, increase or renew the Limits of Liability, and such limits shall be a part of, and not in addition to, the Limits of Liability for the policy period; and, (5) Shall cover only those claims based upon or arising from wrongful acts committed by an Insured after the Policy retroactive date and before the end of the policy period. C. The right to any extended reporting period endorsement is expressly extinguished if: (1) Any amount payable to us under the Policy has not been paid in accordance with the terms of payment, including the failure to pay any premiums when due, or the failure to timely pay deductible amounts due and owing; (2) Any Insured made material misrepresentations in the Application, supplements, addendums or attachments to the Application or to underwriting inquiries; (3) At the time this option could be exercised, the relevant Insured was not licensed to practice law, or had his or her license revoked, suspended or surrendered for any reason; or, (4) There is or was any material noncompliance by an Insured with any of the terms or conditions of this Policy. Non -Practicing Extended Reporting Period — Additional Terms & Conditions Upon the total and permanent retirement or cessation of the full-time or part-time practice of law, an Insured may be eligible for an extended reporting period endorsement, subject to the following terms and conditions: a. The relevant Insured retired or ceased the full-time or part-time practice of law, or leaves the private practice of law to become a state or federal judge, during the policy period; The relevant Insured was, at the time this option could be exercised, a partner, principal, officer, director, shareholder or employed lawyer, other than an independent contractor, who was paid under a regular payroll schedule or firm distribution and had federal and state (if applicable) taxes withheld by Named Insured; C. The Named Insured was insured by us for at least three (3) consecutive years prior to the request for the Non -Practicing Extended Reporting Period and the relevant Insured was employed by the Named Insured for those same three (3) years; d. The relevant Insured notifies us in writing of their retirement or cessation of the practice of law and intent to exercise this option within sixty (60) days of date the relevant Insured retires or ceases the practice of law, or at the end of the policy period, whichever comes first; and, e. Coverage provided under the Non -Practicing Extended Reporting Period will cease immediately upon an Insured's resumption of full or part time practice of law. However, Insureds performing voluntary or uncompensated legal services on a full or part-time basis for or on behalf of not-for-profit ATY-0001-00-0116 Page 14 of 16 © 2016 Attorney Protective. All rights reserved.