Claims
Statute of Limitations
The legally prescribed time period within which a malpractice claim must be filed after the alleged wrongful act or, in some jurisdictions, after the claimant discovers or should have discovered the harm. Statutes of limitations for legal malpractice vary by state, typically ranging from one to six years, and their application directly affects the length of time an attorney remains exposed to claims from past work.
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 ...Discovery RuleA legal doctrine applied in many states that delays the start of the statute of limitations for a ma...