Extended Reporting Option Carries Risks

Placing You First Insurance Podcast by CRC Group

English - May 07, 2020 16:00 - 14 minutes - 20.3 MB - ★★★★★ - 27 ratings
Investing Business Technology insurance wholesale specialty business excess & surplus agency broker Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed

Previous Episode: Product Recall Insurance in the Age of Coronavirus

Next Episode: Earthquake Market Turns Unstable

In insurance, hard markets present hard choices. Policyholders often face sharply higher rates and tighter terms and conditions at renewal, along with exclusions their expiring liability coverage did not impose. In these situations, incumbent carriers may offer an extended reporting period (ERP), which lets insureds file claims after the original policy’s expiration date. Buying an ERP, however, has significant risks that insureds and their agents should consider.

Featuring:

Mike Robison is a Senior Broker in CRC’s Dallas office and ExecPro National Practice Leader.Linda Caruthers is Vice President, Director in CRC’s Minneapolis and active member of the ExecPro Practice Group.

Subscribe to Tools & Intel
CRC Group Online

Visit REDYIndex.com for critical pricing analysis and a snapshot of the marketplace.

Do you want to take your career to the next level? Join #TeamCRC to get access to best-in-class tools, data, exclusive programs, and more! Send your resume to [email protected] today!