What is the definition of a Sunset clause in Commercial General Liability policy?

This type of clause is a provision in a general liability policy which states that the insurer will respond only to losses reported before some predetermined future date (sunset), usually a set period after the expiration of the policy.
So let’s say your GL policy was effective 4/1/13 and expires 4/1/14, and has a 2-year “sunset clause”.
Any claim made against the policy has to have “occurred” during the policy period and must be “made” no later than 4/1/2016 So if a “latent” defect on work performed sometime within the year: 4/1/13 to 4/1/14 is not discovered until April 2, 2016 (2 years and 1 day after expiration) or later, there will be NO coverage under the policy.