As your law practice or legal career evolves, your Professional Liability Policy should also adapt. Understanding how an Extending Reporting Period (ERP) option can extend your coverage is key. Whether you're years away from retirement, considering a merger, or planning for a practice change tomorrow, understanding how ERP endorsements function, the available options, and when you need one could be the difference between sleeping peacefully and facing financial disaster. In this episode, we...
All content for Lawyer's Learning Center with DHIA is the property of Daniels-Head Insurance and is served directly from their servers
with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
As your law practice or legal career evolves, your Professional Liability Policy should also adapt. Understanding how an Extending Reporting Period (ERP) option can extend your coverage is key. Whether you're years away from retirement, considering a merger, or planning for a practice change tomorrow, understanding how ERP endorsements function, the available options, and when you need one could be the difference between sleeping peacefully and facing financial disaster. In this episode, we...
The High Price of Gaps in Your Professional Liability Insurance and Preventative Tips
Lawyer's Learning Center with DHIA
16 minutes
9 months ago
The High Price of Gaps in Your Professional Liability Insurance and Preventative Tips
Lawyers Professional Liability Insurance policies are usually issued as claims-made and reported policies, unlike auto insurance policies, which are generally structured on an occurrence basis. It's essential to understand that a claims-made policy necessitates that coverage is active when a claim is reported and that the incident happens after the retroactive date. Additionally, any claim or potential claim received during the policy period must be reported promptly. This requires that con...
Lawyer's Learning Center with DHIA
As your law practice or legal career evolves, your Professional Liability Policy should also adapt. Understanding how an Extending Reporting Period (ERP) option can extend your coverage is key. Whether you're years away from retirement, considering a merger, or planning for a practice change tomorrow, understanding how ERP endorsements function, the available options, and when you need one could be the difference between sleeping peacefully and facing financial disaster. In this episode, we...
