Policy Period

The span of time during which an insurance policy provides coverage, defined by a specific inception date and expiration date. For claims-made legal malpractice policies, the policy period determines the window in which a claim must be first reported to trigger coverage. Most law firm malpractice policies operate on a twelve-month policy period, though some carriers offer multi-year terms. Understanding the exact policy period is essential for determining whether a claim falls within the coverage window.