What it does
CY 20 01 is the Additional Extended Reporting Period – Elected endorsement filed with ISO's 2020 cyber rules. It provides an additional period, elected by the insured, to report liability claims after the policy ends for wrongful acts before the end of the policy period, on the terms of the endorsement. Connecticut has its own version (CY 20 76).
Program context
In ISO's 2020 cyber multistate program revision, Verisk introduced a new Commercial Cyber Insurance Policy form and a new Information Security Protection Cyber Policy form that replaced all prior base coverage forms of the ISO Cyber program, together with new manual rules, loss costs and rating plan. The new forms carry the 11 21 edition (CY 00 02 11 21 and CY 00 03 11 21).
Quoting and selling notes
- Discuss the election deadline and premium before the policy ends.
- Most useful when the business is closing, being sold or moving to a carrier that will not honor the retroactive date.
- First-party coverages use a discovery trigger and have their own extended discovery terms.
