What is an extended reporting period endorsement?

The Extended Reporting Period endorsement is one of the most important features of a claims-made malpractice policy. It extends the period during which you can report claims after your policy has expired, been canceled, or non-renewed.

Under a standard claims-made policy, a claim must be both made and reported during the active policy period. If your policy expires on December 31 and a client files a malpractice suit on January 15, the expired policy does not respond — even though the alleged error occurred during the policy period. An ERP solves this by extending the reporting window.

ERPs come in several varieties. A basic or mini-ERP is often included automatically in the policy at no additional cost. This typically provides 30 to 60 days of extended reporting after policy termination — just enough time to report claims you learn about immediately after the policy ends. A supplemental or optional ERP must be purchased separately and provides significantly longer reporting periods — 1 year, 3 years, 5 years, or unlimited. Pricing varies with duration.

The unlimited ERP is the gold standard and is strongly recommended whenever a policy is terminating without replacement coverage. For retiring attorneys, the unlimited ERP ensures that any claim arising from pre-retirement work can be reported regardless of when it surfaces — even 10 or 20 years later. For firm dissolutions, an unlimited ERP on the firm's last policy protects all former partners from uninsured claims.

Most carriers offer the ERP at a one-time premium calculated as a multiple of the last annual premium. Typical pricing: 1-year ERP at 50% to 75% of annual premium; 3-year ERP at 100% to 125%; unlimited ERP at 150% to 225%. Some carriers offer installment payment options for the unlimited ERP.

The ERP must typically be purchased within a specified window after policy termination — usually 30 to 60 days. Missing this deadline may forfeit your right to purchase the ERP. Mark this deadline on your calendar and treat it as non-negotiable.

Important: the ERP does not provide new coverage. It only extends the reporting period for claims arising from acts committed during the original policy period. New legal services performed after the policy termination are not covered by the ERP.