Policy Structure
Retro Date Gap
A period of time between a prior policy's retroactive date and the current policy's retroactive date during which no coverage exists for professional acts. Retro date gaps most commonly occur when a law firm switches carriers and the new carrier sets a retroactive date at the new policy's inception rather than matching the prior carrier's retroactive date. Any malpractice claim arising from work performed during the gap period would not be covered by either the old or new policy. Avoiding a retro date gap is one of the most critical considerations when changing malpractice carriers, and firms should negotiate to maintain their existing retroactive date or purchase tail or nose coverage to close the gap.
Related terms
Prior Acts DateAlso called the retroactive date, this is the earliest date from which a claims-made policy will cov...Tail CoverageAn informal name for an extended reporting period endorsement purchased when a claims-made policy is...Retroactive DateThe date specified in a claims-made policy before which any alleged wrongful act is excluded from co...Nose CoverageAn endorsement purchased on a new policy that extends its retroactive date backward to cover prior a...