Policy Structure
Claims-Made Policy
A type of insurance policy that provides coverage only when a claim is first reported to the insurer during the active policy period, regardless of when the underlying incident occurred. The claim must arise from an act committed on or after the policy's retroactive date. This is the standard policy form for legal malpractice insurance.
Related terms
Prior Acts DateAlso called the retroactive date, this is the earliest date from which a claims-made policy will cov...Extended Reporting PeriodA provision in a claims-made policy that extends the time during which claims can be reported after ...Occurrence PolicyA type of insurance policy that covers incidents occurring during the policy period, regardless of w...