‘Claims Made’ Reporting Requirements, BERP’s and Prior Litigation
This post is part 2 of a 5-part series authored by Fred Fisher. Check out part 1 of this series here. 'Claims Made' Reporting Requirements, BERP's and Prior Litigation "I hate my insurer" says the client. "All they ever want to do is settle the claim.. after throwing my deductible out the window." Brokers have heard this for years, and as errors and omissions policy holders, many may even think it themselves. Insureds might even consider handling a "minor claim" themselves to save the deductible and keep the renewal premium in line (since it is assumed that reporting a claim [...]