Discovery period

Discovery period,

Definition of Discovery period:

  1. A grace period given to an insured who has cancelled a bond, during which he or she can still discover and report losses that occurred during the bonds term. Losses reported in this fashion are paid by the original surety. The grace period is usually one year.

Meaning of Discovery period & Discovery period Definition

Discovery Period,

What is The Definition of Discovery Period?

The follow-up time allows insurers to identify and report losses during the policy or warranty period.

Discovery Period refers to The term of insurance is the period after the expiration of the insurance policy in which the insured can identify the loss as long as the policy is valid and claims.

Meaning of Discovery Period: The term given to the insurers after the cancellation of the policy for reporting claims during the coverage period of the contract and if the contract continues, it will be recovered.

When a liability expires, losses can occur indefinitely. Upon expiration or expiration, the insured may be given a period of time to determine the loss, subject to the terms of the guarantee. The time provided is called the detection period. See also Bond above.

Literal Meanings of Discovery Period

Discovery:

Meanings of Discovery:
  1. The act or process of discovery or discovery.

  2. Mandatory disclosure through part of the proceedings of the relevant document mentioned by the other party.

Sentences of Discovery
  1. Body discovery

  2. When questioned by another party, both parties have a natural right to be present at the hearing.

Synonyms of Discovery

uncovering, unearthing, locating, location, finding

Period:

Meanings of Period:
  1. Intermittent or lubricating phenomena such as mechanical vibrations, alternating current, variable stars or electromagnetic waves between successive events of a state.

  2. Trace blood and other material from the lining of the uterus, which is approximately between puberty and menopause in non-pregnant women. Occurs 28 days and usually lasts for several days.

  3. Complex sentences, especially sentences that consist of several clauses and are formed as part of a formal speech or sentence.

Sentences of Period
  1. As he spoke, he pointed the tip of his cigar into the air as if he were cutting sentences from a hot spot in the air.

  2. Horizontal lines or periods also tend to be predictable in nature, because moving from one left to the right along a line only adds one electron by changing the atom number to the other.

Synonyms of Period

in period style, of yesteryear, stop, term, span, bout, spell, duration, evocative, run, interval, session, space, chapter, nostalgic, period, olde worlde, stage, phase, stretch, point, menstruation, menstrual flow, time