Tail coverage or Extended Reporting Period Terms provide 1, 2, or 3 years of continuous E&O coverage after your Retroactive or Prior Acts date. This is not renewal coverage, but an extension of the currently bound E&O coverage.
Tail coverage is frequently used if you are leaving or retiring from real estate or selling your business. It covers you for claims that may occur from your prior transactions after you no longer work in real estate or no longer own a real estate business.
This blog/website is made available by CRES Insurance Services for educational purposes to give you general information and understanding of legal risks and insurance options, not to provide specific legal advice. This blog/website should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. Claims examples are for illustrative purposes only. Read your policy for a complete description of what is covered and excluded.
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