What is the required time frame for maintaining claims-made insurance coverage after the agreement's expiration?

The requirement for maintaining claims-made insurance coverage for a specified time frame after the expiration of the agreement is three years. This duration is often established to ensure that any potential claims that arise from the work performed under the agreement can still be addressed. Claims-made insurance typically covers only claims that are made during the policy period, meaning that if an incident occurs during the contract but is reported later, it may not be covered unless there are provisions to extend coverage after the agreement ends.

By maintaining coverage for three years after the expiration of the agreement, parties can protect themselves from unforeseen circumstances or claims that might surface during that period. This practice is rooted in providing adequate time for any claims to be reported, ensuring that all potential liabilities are adequately covered. Thus, the correct answer aligns with the standard practices within the industry for risk management and liability protection following the conclusion of a contractual agreement.