Claims-Made Basis
/ˈkleɪmz meɪd ˈbeɪsɪs/
Definitions
- (n.) An insurance policy provision under which coverage is triggered by claims filed during the policy period, regardless of when the incident occurred.
The policy operates on a claims-made basis, covering only claims reported while the insurance is active.
Forms
- claims-made basis
Related terms
See also
Commentary
Clauses defining claims-made basis are critical to clarify coverage timing and may require retroactive dates to cover prior acts.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.