In the world of professional liability insurance, ERP stands for an extended reporting provision.

This usually comes in the form of an endorsement, and it usually occurs in a few situations:

1. In the event of your death
2. In the event of your retirement
3. Your entity dissolves

With a claims made policy, you need this extended reporting period provision to be issued, so your prior acts or your past professional services are covered under the last policy that you purchased.