Insurance Essentials

Extended Reporting Period

Extended Reporting Period (ERP) Explained

An Extended Reporting Period, or ERP, is a finite window of time beyond the end of a claims-made policy during which the insured organization may report claims to the insurer. The ERP extension only provides coverage for claims arising from wrongful acts that occurred prior to the inception of the ERP.

Duty to defend

Duty to Defend

In this video, we explain what it means when a Policy is on a “Duty to Defend” wording. What is it? Where do you find it? And how does it work?

Extended reporting period timeline

‘Claims Made’ vs ‘Claims Made and Reported’

Claims Made and Claims Made and Reported forms have different claims reporting implications. Understanding what basis a policy is on is one of the most important things to note about an insurance policy. Watch this video to understand the difference between these two forms.

Hard market negotiations

A Checklist to Successful Negotiations in a Hard Market

At the start of a hard market, we need to take time to brush up on our negotiation skills. This checklist will help you gather information and be proactive in your placing efforts. Be in control of your renewals and enter each discussion with an action plan!

SWOT analysis for insurance

January, a time for TOWS… (SWOT analysis for insurance)

For many of us, January means post-holiday blues, cutting alcohol or sweets from your diet, and perhaps exercising more than you did the entire year prior. It also involves planning for the upcoming year. Be sure to carve out some time to give TOWS a try, regardless of your role within your firm. January is the time to set goals and draw a plan to achieve those goals!

Claims Made vs Claims Made and Reported

Claims Made vs Claims Made and Reported

A Claims Made policy form offers coverage for claims made against the insured during the policy period. These policies typically come with a reporting requirement defined as “as soon as reasonably practicable.” This policy is also known as the “pure claims made” policy.

Category: Insurance Essentials

Extended Reporting Period

Extended Reporting Period (ERP) Explained

An Extended Reporting Period, or ERP, is a finite window of time beyond the end of a claims-made policy during which the insured organization may report claims to the insurer. The ERP extension only provides coverage for claims arising from wrongful acts that occurred prior to the inception of the ERP.

Duty to defend

Duty to Defend

In this video, we explain what it means when a Policy is on a “Duty to Defend” wording. What is it? Where do you find it? And how does it work?

Extended reporting period timeline

‘Claims Made’ vs ‘Claims Made and Reported’

Claims Made and Claims Made and Reported forms have different claims reporting implications. Understanding what basis a policy is on is one of the most important things to note about an insurance policy. Watch this video to understand the difference between these two forms.

Hard market negotiations

A Checklist to Successful Negotiations in a Hard Market

At the start of a hard market, we need to take time to brush up on our negotiation skills. This checklist will help you gather information and be proactive in your placing efforts. Be in control of your renewals and enter each discussion with an action plan!

SWOT analysis for insurance

January, a time for TOWS… (SWOT analysis for insurance)

For many of us, January means post-holiday blues, cutting alcohol or sweets from your diet, and perhaps exercising more than you did the entire year prior. It also involves planning for the upcoming year. Be sure to carve out some time to give TOWS a try, regardless of your role within your firm. January is the time to set goals and draw a plan to achieve those goals!

Claims Made vs Claims Made and Reported

Claims Made vs Claims Made and Reported

A Claims Made policy form offers coverage for claims made against the insured during the policy period. These policies typically come with a reporting requirement defined as “as soon as reasonably practicable.” This policy is also known as the “pure claims made” policy.