ERP Endorsements

Claims-made insurance policies can be configured to offer Extended Reporting Period (ERP) Endorsements. An ERP Endorsement can only be created from either the earliest cancelled policy term, or if no term is cancelled, from the latest Bound term. All future terms must be Declined or Voided. The source transaction the ERP is created from must be in Bound status in the source term (cancelled or bound) and all other transactions in the term must be in an end-of-life status.

Creating an ERP Endorsement locks the prior policy term and all associated transactions. When deleting or voiding an ERP, the source term is automatically unlocked.