Extended Reporting Periods: What Are They and Why Do You Need Them?

Whether your firm is closing its doors, acquiring or merging with another firm, or wondering what happens to your professional liability policy during these types of changes, this guide will help you understand Extended Reporting Periods (ERPs) and how they work.

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Introduction The architecture and design industry is at a critical juncture. Climate change poses escalating risks to the built environment and the people who occupy it, prompting the need for immediate, proactive, industry-wide action.

The AIA Trust together with the American Council of Engineering Companies (ACEC) and the National Society for Professional Engineers (NSPE) work annually to conduct an insurance carrier review and interview of professional liability trends and risk management issues. The following are some highlights for 2023 as well as complimentary useful resources made available to you by the AIA Trust.