What it does
MP 28 16 is a second extended reporting period endorsement filed for the ISO Management Protection program (10 06 edition). Like MP 28 01, it extends the time to report claims after the policy ends for wrongful acts before the end of the policy period, on the terms of the endorsement.
Program context
The ISO Management Protection (MP) program is a modular management liability policy: Common Policy Conditions (MP 00 03) shared by separate coverage forms for executive liability (D&O), executive and entity securities liability, financial institutions executive liability, not-for-profit management liability, fiduciary liability and Side A only. Forms lists show the Management Protection forms filed for use in Colorado, Iowa, Illinois, Indiana, Kansas, Minnesota, Missouri, North Dakota, Nebraska, Ohio, South Dakota, Wisconsin and Wyoming. The 10 06 and 05 09 editions are the current ones in forms lists; ISO filed a multistate Management Protection forms revision in 2008.
Who needs it
Insureds electing tail coverage under the coverage forms to which this version applies.
Quoting and selling notes
- Check which coverage forms each ERP endorsement is written for before quoting the tail.
- Discuss election deadlines early.
- Wyoming uses state ERP versions.
