Insurance Essentials

Extended Reporting Period

Extended Reporting Period (ERP) Explained

VIDEO: 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 …

Duty to defend

Duty to Defend

Duty to defend refers to the obligation to provide a legal defence for a claim made against the insured after that claim has been reported to the insurer.  Read more…

Report claim

Claims Made vs Claims Made and Reported

A Claims Made policy offers coverage for claims made against the insured during the policy period. This type of policy typically comes with a reporting requirement defined as “as soon as reasonably practicable.”

'Named Perils' and 'All Risks'

Named Perils vs. All Risks Explained in Plain English

‘Named Perils’ and ‘All Risks’ refer to two different kinds of insurance coverage. Named Perils wordings are common in property insurance policies. You’ll find All Risks wordings in general liability and errors and omissions policies.

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Insurance Essentials