Precedent Analysis: Retroactive Date Disputes in Professional Liability . . . Professional Liability (Errors Omissions or “E O”) disputes often turn on a single contractual provision: the retroactive date in a claims‑made policy For US firms—whether a solo IT consultant in San Francisco or a New York accounting boutique—retroactive date litigation can decide whether coverage exists for high‑value claims arising from historical acts This article analyzes
Extended Reporting Periods Tail Coverage Guide | InsureTutor The Extended Reporting Period (ERP), commonly known as "Tail Coverage," is the mechanism designed to bridge this gap It allows an insured professional to report claims for wrongful acts that occurred during the policy period, even if the claim is filed after the policy has expired or been cancelled
Tail Coverage for E O Insurance (Extended Reporting Period). What It Is . . . Tail coverage is typically an endorsement that creates an extended reporting period, sometimes called ERP or extended reporting coverage It allows you to report certain claims after your policy expires, as long as the alleged act, error, or omission happened before the policy ended and meets the policy’s retroactive date and other conditions
FAQs on Extended Reporting (“Tail”) Coverage - American Bar Association As with most forms of errors and omissions insurance, almost all lawyers' professional liability insurance (LPL) is written on a claims–made basis With many policies, in order for a claim to be covered, the claim has to be first made against the policyholder and reported to the insurance company during the policy period (claims–made and
Understanding the Retroactive Date in Your E O Insurance Most professionals assume their Professional Liability insurance policy, also known as Errors Omissions (E O) insurance, will protect today’s claim about yesterday’s work However, depending on the retroactive date in your policy, this may not be the case That’s why understanding the retroactive date in your E O insurance is so important Unlike other policies that cover incidents
Tail Coverage and Extended Reporting Period Endorsements A claims-made liability policy obligates the insurer only when both the triggering act and the claim fall within the policy period When a policy lapses, is cancelled, or is not renewed on a claims-made basis, any claim submitted after the expiration date — even if it arises from a covered act committed during the policy's active term
What Is an Extended Reporting Period? Tail Coverage Tail coverage, formally called an extended reporting period (ERP), lets you report claims against a canceled or expired claims-made professional liability policy after that policy ends It does not provide new coverage for future work Instead, it keeps the door open so that if a past client sues you for something you did while the policy was active, you can still tap into your old insurer’s
Retroactive Date Strategies for Prior Acts Coverage | Federato In professional liability and errors omissions (E O) policies, typically written on a claims-made basis, the policy active when the claim is reported responds, not the one active at the incident's occurrence
E O TIP: Handling Claims-Made Policies Professional Liability Coverage – also known as Errors Omissions Coverage – is typically written on a claims-made basis Claims-made coverage is unique in that it requires claims to have occurred on or after the retroactive date of the policy and to be submitted during the policy period or an extended reporting period for there to be coverage Claims from these policies typically involve
Ask the Underwriters: Recurring Claim Issues Tail Coverage Of course, Ben The difference between prior acts and tail coverage is simple Prior acts coverage provides the insured with coverage for claims arising from acts, errors or omissions committed on or after the retroactive date listed in an active policy Tail coverage provides protection once the policy expires