[§431:10-211.3]  Commercial generalliability extended reporting requirements.  Any policy for commercialgeneral liability coverage wherein the insurer shall offer and the insured mayelect to purchase an extended reporting period for claims arising during theexpiring policy period shall provide that:

(1)  In the event of a cancellation, there shall be athirty-day period during which the insured may elect to purchase coverage forthe extended reporting period;

(2)  The limit of liability in the policy aggregatefor the extended reporting period shall be one hundred per cent of the expiringpolicy aggregate; and

(3)  The insurer shall provide the following lossinformation to the first named insured within thirty days of the insured'srequest or upon any notice of cancellation or nonrenewal:

(A)  All information on closed claims includingthe date and description of occurrence and amount of payments, if any;

(B)  All information on open claims includingthe date and description of occurrence, amount of payment, if any, and amountof reserves, if any; and

(C)  All information on notices of occurrenceincluding the date and description of occurrence and amount of resources, ifany. [L 2006, c 189, §1]

 

Revision Note

 

  Subsection designation deleted pursuant to §23G-15(1).