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Does reporting a claim, incident or circumstance mean a Registrant automatically becomes responsible for a deductible under the E&O coverage?

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Does reporting a claim, incident or circumstance mean a Registrant automatically becomes responsible for a deductible under the E&O coverage?

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No. Many incidents reported do not develop into claims. Many successfully defended claims do not result in settlements. Deductibles are only required from a registrant when a settlement is paid under the policy by the insurer on behalf of the registrant.

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