Discovery Period
Definition of "Discovery period"
Clause in a bond that permits a principal who was formerly insured by the bond to report a loss to the surety company that occurred while the bond was in force. The period of time for reporting after the bond terminates is usually limited to one year.
Popular Insurance Terms
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Time period in health insurance that must elapse between a previous illness and a current one, if the current one is to be considered a separate illness eligible for a new set of benefits. ...
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