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...nsurance: Occurrence Forms versus Claims-Made Forms
Before the advent of sp...iod. There's usually no coverage for claims based on covered acts taking place...

... endorsements Occurrence vs. claims-made forms Admitted vs. Non-Admi...lly, the policy is designed to cover claims reported within five years, as lon...

... markets alike. During a soft market, carriers are far more flexible and willing to grant enhancements that aren't available in a hard market. Knowing what gaps can occur and making sure the client understands them can help avoid or reduce the impact of an E&O claim and help make your client an agency advocate. There are fewer exposures when you go from a hard market to a soft market than when going from a soft market to a hard one. When the market hardens, standard carriers become more selective about what business ... a market downturn that reduces investment income — without which there might not be an insolvency at all. It's crucial to pay attention to your market performance! POLICY COVERAGE Policy coverage involves two broad areas: Policy forms, coverage, definitions, and endorsements Occurrence/claims made, coverage triggers, retroactive date, and extended reporting periods We've mentioned the differences between E&S and standard markets; but you might also have problems going from one standard carrier to another. Although many carriers use ISO or AAIS coverage parts and forms, ... This is usually the inception date of the policy, but it can be a specified date prior to inception or not specified at all (also called "prior acts" or "full prior acts" coverage) . Extended Reporting Periods: This is usually called "tail" coverage because once it's added, the policy will cover claims submitted after the policy expires. Normally, the policy is designed to cover claims reported within five years, as long as the occurrence is reported to the insurer within 60 days of the end of ...

...ng any interest and penalties. No claims of a tax deficiency or unpaid tax obl...r than as set forth herein, have been made by the parties hereto. ...