Your expiring policy(s) have been written under a CLAIM-MADE POLICY.  The policy only applies to covered claims arising out of your real estate activities, as defined in the policy, made against you on or after the inception date and before the end of your current policy period that occurred after your retroactive date.

It is important that you maintain continuous coverage.  Failure to renew your coverage with us by January 31, 2008 will result in the loss of your current retroactive date (which provides prior acts coverage).  This means there will be no coverage for claims arising out of real estate activities, as defined in your policy, prior to any new retroactive date. Instead coverage, if any, will only apply to real estate activities that take place on or after any new retroactive date.

If you are not renewing your coverage with us for any reason or decide to renew after January 31, 2008 you should consider purchasing an Extended Reporting Period Endorsement (“ERP Endorsement”), otherwise known as “tail coverage”. The ERP Endorsement extends for three (3) years the time in which you may report certain claims alleging wrongful acts that were committed after your current retroactive date and before your coverage expired on January 1, 2008.  The ERP Endorsement does not extend the policy period and does not change the scope of coverage under the expiring policy.

The cost for the ERP Endorsement is 200% of the annualized premium you paid for coverage that expired on January 1, 2008.  To purchase the ERP Endorsement, please send a written request, along with your payment to us by March 31, 2008.  If we receive your request after March 31, 2008, we cannot issue the ERP Endorsement to your expiring policy.