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Personal Coverage

Extended Reporting Period Coverage

Even if you are retiring, leaving the industry, or giving up one of your licenses, your liability continues for the advice you provided and the products you sold.

Is your Power of Attorney aware of the need to purchase extending coverage should you pass away, in order to protect your estate and family?

The Advocis Protective Association Sponsored E & O plan gives advisors an option to purchase an Extended Reporting Period (ERP). Agents may purchase a term of 1-6 years of ERP. This effectively extends the period in which an agent can report claims for incidents which occurred in the policy term prior to the date the ERP was effected.

Note that purchasing an ERP does not increase your limit of insurance. The policy limit of the expired policy still applies during the ERP. Once the ERP is in place, you would have coverage (for the term purchased) for errors or omissions which occurred PRIOR to placing the ERP. The ERP is only available to agents who are retiring or ceasing to conduct business.

The ERP must be purchased within 60 days of the cancellation or expiry of the active policy, and it cannot be renewed; that is, if you were to purchase a three-year term, it cannot be extended after that three-year period. Please note that the cost of the ERP is based on your expiring premium and NOT the renewal premium.

Additionally, as the amount cannot be financed, payment must be made via cheque, Visa or MasterCard.

If you would like to purchase Extended Reporting Period Coverage please complete the ERP Application form linked here, complete the form and return it to Advocis Broker Services for processing.