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Terminal
Liability Option
Terminal
Specific Liability Optional Provision
- Option
for 12/12, 15/12, 18/12 and 24/12 contracts.
- This
option covers all claims incurred during a Policy period and paid
during a three month run-out period.
- Must
be elected on the case’s original effective date (not at
renewal).
- Terminating
policyholders must return to a fully insured arrangement to enact
this coverage.
- If
the plan terminates prior to the completion of the twelve (12)
month policy period, the terminal liability provision would
not apply. See underwriter for further details.
Terminal
Aggregate Liability Optional Provision
-
Option for 12/12, 15/12, 18/12 and 24/12 contracts.
- Provides
three months of paid claim run-out protection for those
claims incurred during the current Policy period before termination.
-
Must be elected on the case’s original effective date (not
at renewal).
- Aggregate attachment point adjusted to account for run-out risk.
-
Terminating policyholders must return to a fully-insured arrangement
to enact this coverage.
-
If the plan terminates prior to the completion of the twelve (12)
month policy period, this provision would not apply.
- See
underwriter for further details.
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