If a liability insurance policy is written as a "claims made" policy, an endorsement must provide for a discovery period of at least 12 months beyond the date of expiration or cancellation of the policy. The endorsement must also provide that the underwriter will notify the public according to the requirements below:
At least 60 days prior to the date upon which the policy will expire or be canceled, written notification shall be given to all owners of property abutting the facility and to the chief elected official in the municipality in which the facility is located and in each of the municipalities immediately abutting the municipality in which the facility is located, that insurance for the facility will expire or be canceled, giving date of expiration or cancelation, and that claims against the insured must be filed within 12 months from the date of expiration or cancelation, specifying where and how claims can be filed.