CAA Contract ALUMBAUGH 2019 - Laserfiche WebLink

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organizations or purposes will be considered retired for the purpose of retaining their Non -Practicing Extended Reporting Period under this subsection so long as such Insureds have otherwise ceased the practice of law, provided no other legal services, and are not compensated in any way (not including reimbursement for actual costs or expenses related to the uncompensated representation) for providing the legal services. Such voluntary legal services are not covered by the Non -Practicing Extended Reporting Period as set forth in Section H. Receipt of free office space or supplies or provision of health care or other benefits in exchange for legal services is considered to be compensation for legal services. Death or Permanent Disability Extended Reporting Period - Additional Terms & Conditions Upon the death of an Insured or when an Insured becomes totally and permanently disabled, the relevant Insured may be eligible for an extended reporting period endorsement of up to five (5) years for no additional payment of premium under the following terms and conditions: a. The relevant Insured died or became totally and permanently disabled during the policy period, and the death or disability was not the result of suicide, drug or alcohol abuse, or an intentionally self-inflicted wound; b. 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 extended reporting period; d. Within sixty (60) days of the death or total and permanent disability, or within thirty (30) days of the end of the policy period, whichever comes first, the relevant Insured or their legal representative notifies us in writing of the death or disability, provides evidence satisfactory to us of such death or disability, and requests this extended reporting period endorsement; and, e. The extended reporting period endorsement expires upon the expiration of five (5) years, or the date the estate is discharged, or the date the relevant Insured is no longer totally and permanently disabled, whichever comes first. 4. Premium for Extended Reporting Periods The additional premium for an extended reporting period endorsement other than the Non -Practicing, Death or Permanent Disability options, shall be based upon the premium of the expiring Policy as follows: (1) One hundred percent (100%) of the annual premium for a one-year extended reporting period; (2) One hundred fifty percent (150%) of the annual premium for a two-year extended reporting period; (3) One hundred seventy-five percent (175%) of the annual premium for a three-year extended reporting period; (4) Two hundred twenty-five percent (225%) of the annual premium for a six-year extended reporting period; or, (5) Two hundred fifty percent (250%) of the annual premium for an unlimited extended reporting period. b. No additional premium is due for a Non -Practicing Extended Reporting Period endorsement issued pursuant to H.2 above, for up to an unlimited duration. No additional premium is due for a Death or Disability Extended Reporting endorsement issued pursuant to H.3 above, for a period of up to five (5) years in duration. d. Any premium paid to us for an extended reporting period endorsement is non-refundable. ATY-0001-00-0116 Page 15 of 16 © 2016 Attorney Protective. All rights reserved.