Policy Structure
Prior Acts Date
Also called the retroactive date, this is the earliest date from which a claims-made policy will cover alleged wrongful acts. Claims arising from acts committed before this date are excluded from coverage. Maintaining a continuous prior acts date when switching carriers is critical to avoiding gaps in retrospective coverage.
Related terms
Claims-Made PolicyA type of insurance policy that provides coverage only when a claim is first reported to the insurer...Extended Reporting PeriodA provision in a claims-made policy that extends the time during which claims can be reported after ...Retroactive DateThe date specified in a claims-made policy before which any alleged wrongful act is excluded from co...