{"data":{"id":"us-va/14vac5-335-30","jurisdiction":"us-va","citation":"14VAC5-335-30","heading":"Requirement to offer supplemental extended reporting period","body":"A. Every claims-made liability insurance policy  shall include a provision  that the named insured  may purchase a supplemental extended reporting period in accordance with the provisions of 14VAC5-335-40 upon policy termination. To the extent that policy limits apply separately to each named insured, each named insured shall be separately entitled to purchase  a supplemental extended reporting period.  Policy termination of claims-made coverage shall include:\n\n1. Cancellation or nonrenewal of the policy by the insurer or the insured;\n\n2. Advancement of any applicable retroactive date; or\n\n3. Renewal of the  policy on other than a claims-made basis.\n\nB. No offer of a supplemental extended reporting period  is required if cancellation or nonrenewal of a claims-made liability insurance policy is due to:\n\n1. Nonpayment of premium;\n\n2. Failure to comply with terms or conditions of the policy; or\n\n3. Fraud.\n\nC. Each claims-made liability insurance policy shall contain provisions that clearly state when the supplemental extended reporting period will and will not be offered.\n\nD.  Upon a policy termination  as set forth in subsection A of this section, the insurer shall offer in writing to the named insured a supplemental extended reporting period. The offer shall include the duration and premium of the  required supplemental extended reporting period coverage in 14VAC5-335-40 and  any other available duration and premium options. The offer shall be sent no earlier than the date of notification of termination of the policy and not later than 15 days after the termination of the policy. The named insured shall have a minimum of 30 days from  policy termination to purchase the supplemental extended reporting period.","path":["Title 14. Insurance","Agency 5. State Corporation Commission, Bureau of Insurance","Chapter 335. Rules Governing Claims-Made Liability Insurance Policies"],"source_url":"https://law.lis.virginia.gov/admincode/title14/agency5/chapter335/section30/","current_through":"2026 Regular Session (effective July 1, 2026)","vintage":"","retrieved_at":"2026-09-14T04:51:59Z","sha256":"e66c20a18a5a53526e2b5fd52e9916abc0259d7b109cbdf6f8f5aea74271ec10","source_id":"us-va-vac","stale":false,"prev":"us-va/14vac5-335-27","next":"us-va/14vac5-335-40"},"notice":"GroundRules: Original legal text. Not legal advice."}