Claims-Made Policy
/ˈkleɪmz meɪd ˈpɒlɪsi/
Definitions
- (n.) An insurance policy that provides coverage only for claims made during the policy period, regardless of when the event causing the claim occurred.
The lawyer purchased a claims-made policy to ensure coverage for any malpractice claims reported during the year.
Forms
- claims-made policy
- claims-made policies
Related terms
See also
Commentary
Claims-made policies necessitate careful attention to policy periods and retroactive dates to avoid coverage gaps.
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.