WebExtended Reporting Period (ERP) Policy All licensees who wish to place their license in inactive status must first obtain ERP, pursuant to KRS 324.395 (1). The ERP policy must be for a minimum of one (1) year at the minimum requirements established in 201 KAR 11:220. WebAn aggregate limits reinstatement is a clause contained in the extended reporting provisions of some claims-made policies that reinstates—for the term of the extended reporting period (ERP)—the original policy limits of liability if they have been reduced or impaired by the payment of claims or the setting of claim reserves. On This Page

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WebAn ERP provides tail coverage, typically for one year or up to six years, under the expiring terms and conditions of the original policy. The extended reporting period is only available or needed on claims-made policies and is most commonly seen utilized on directors’ and officers’ liability, professional liability and employment practices liability policies. WebSep 13, 2024 · Extended Reporting Periods . A solution for coverage gaps could be an ERP. An ERP extends the time period during which claims may be made and/or reported to the insurer. A claim is covered by an ERP only if it results from an injury (or another covered event) that occurred before your policy expired. timothy loughmiller estate sales

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WebSep 19, 2012 · This type of coverage is only applicable to acts that occur during your real estate license period. Extended Reporting Period (ERP or 'Tail Coverage') … Webextended reporting period The extended reporting period (ERP) is the designated time period after a claims-made policy has... installment tail coverage Installment tail coverage is the purchase of an extended reporting period (ERP) for a claims-made... WebSep 19, 2012 · An ERP endorsement may be purchased within the first 90 days after the licensee’s policy expires and allows the insured to report claims made after the expiration date and during the ERP. The optional ERP Endorsement is important because many professional liability claims are not made until years after the underlying transaction … pars chicago