Extended Reporting Period (ERP) options with Professional Liability insurance companies

Extended Reporting Period, also called tail policy or ERP, is an extended period of time after the end of the policy period for reporting claims to the insurance company. The policy must be cancelled or non-renewed by either the insurance company or by the named insured (design firm). It is important to know what your insurance company offers before your firm purchases the policy. This is a breakdown of the time period that some of the insurance companies offer and the cost for the ERP.

Travelers Insurance Company
One Year 125% of expiring premium
Two Years 185% of expiring premium
Three Years 200% of expiring premium
Five Years 240% of expiring premium

Navigators Insurance Company
One Year 125% of expiring premium
Three Years 225% of expiring premium
Five Years 300% of expiring premium

Great American Insurance Company
One Year 100% of expiring premium
Three Years 175% of expiring premium
Five Years 250% of expiring premium

RLI Insurance Company
One Year 100% of expiring premium
Two years 150% of expiring premium
Three Years 185% of expiring premium
Four Years 210% of expiring premium
Five Years 235% of expiring premium

CNA/Victor O. Schinnerer
One Year 100% of expiring premium
Three Years 190% of expiring premium
Five Years 250% of expiring premium

The premium for the ERP is based on the expiring premium of your Professional Liability policy. For example, if your expiring premium is $2,500 expiring premium and your firm is with Travelers and choose the two year ERP, the ERP premium will be $4,625.

This is a list of just a few insurance companies ERP, be sure you refer to your policy for the ERP term with your insurance company. Please let your PUI Agent know how we can help or if you have any questions.