Errors & Omissions Insurance Special thanks to the Title Industry Assurance Company for these insights. Prepared: April 2021 What to look for when reviewing your E&O policy ... Is it a claims-made policy? Important facts about a claims-made policy: • Claims-made policies require that the policy be in effect at the time a claim is made or reported regardless of when the wrongful act took place. • Claims-made policies contain a retroactive date/prior acts date. This is the date the first policy incepted and from where uninterrupted coverage begins. • If you decide to close your agency you should consider purchasing “tail end” coverage – Extended Reporting Period (ERP) endorsement. The ERP endorsement provides coverage for the time period from the retroactive date to the date the

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