What is the minimum coverage period for a North Dakota professional liability policy?

The minimum coverage period for a North Dakota professional liability policy is set at one year. This requirement ensures that professionals are adequately covered for claims that may arise from their services during that timeframe. A one-year period aligns with standard practices in the insurance industry, allowing policyholders sufficient time to address potential claims or disputes that may come up following their professional engagements.

Having at least a one-year coverage period also reflects a balance between the needs of professionals and the risks inherent in providing professional services, thus maintaining accountability in the profession. In many cases, professionals favor a longer coverage period, but the minimum requirement ensures a baseline level of coverage is consistently in place.