10. Commitments and Contingencies Leases The Company is obligated under certain operating leases to rent space for its IPF and RTC facilities and other office space. The terms of the leases range from five to ten years, with optional renewal periods. The Company's building lease for Lafayette contains a fair market value purchase option exercisable under certain conditions during the lease terms. Aggregate minimum lease payments under noncancelable operating leases with original or remaining lease terms in excess of one year are as follows: Year ended December 31, 2011 $ 1,027,274 2012 1,062,025 2013 1,040,907 2014 965,827 2015 Thereafter 925,505 Thereafter 1,758,118 Total minimum rental obligations $ 6,779,656 For the years ended December 31, 2010, 2009 and 2008, the Company incurred rental expense, in the aggregate, under all of its operating leases of approximately $1,287,668, $884,936 and $851,723, respectively. Insurance Prior to July 1, 2009, the Company maintained commercial insurance coverage on an occurrence basis for workers' compensation claims with no deductible. Effective July 1, 2009, the Company maintains commercial insurance coverage on an occurrence basis with a $250,000 deductible per claim and $1 million per claim limit. The Company maintains commercial insurance coverage on a claims-made basis for general and professional liability claims with a $50,000 deductible and $1 million per claim limit and an aggregate limit of $3 million with excess umbrella coverage for an additional $7 million. The accrued insurance liabilities included in the accompanying consolidated balance sheets include estimates of the ultimate costs for both reported claims and claims incurred but not reported through December 31, 2010. In the opinion of management, adequate provision has been made for losses that may occur from the asserted and unasserted claims. The healthcare industry in general continues to experience an increase in the frequency and severity of litigation and claims. As is typical in the healthcare indu