This firm had 6 attorneys at the beginning of the policy year and is going to dissolve on December 31, 2017. The firm is planning on purchasing a 1 year Extended Reporting Period Endorsement (ERP) for the firm. Their current carrier Medmarc Casualty’s policy allows the purchase of individual attorney and firm ERP’s. Medmarc allows 60 days from the date of coverage termination to purchase an ERP. (Note all malpractice insurance carriers are different on this and it is important to check your malpractice insurance carriers policy for number of days allowed.)
An ERP is an endorsement that is attached to the last inforce policy and extends the reporting period beyond the termination date of claims made coverage. It does not change any other terms or conditions of coverage.
Question from firm:
“Attorney is leaving the firm and is going to work for a government entity as an employee as the city attorney. Does this qualify for the non-Practicing ERP? And if so how does attorney apply for it.”
Response to firm:
Although the Medmarc policy is not 100% definitive about what work an attorney does would qualify for a non-Practicing ERP. Normally work done as an employee as the city attorney would not be considered private practice legal work. As the attorney does not intend to go back into private practice and has enough years with Medmarc, the attorney should qualify for an unlimited non practicing ERP with Medmarc at no cost. This answer could be different if the attorney is doing this on a contract basis and not an employee of the city.
Please note that the answers giving here are only for this specific set of circumstances. Different Attorney Malpractice Insurance carriers have different rules for ERP’s. So it is important to check with your agent or insurance carrier prior to making any decisions on what your rights are and the best way to exercise that right.