Claims-Made Policy

An insurance policy that covers claims for incidents that occur during the policy period, regardless of when the claim is filed.

Extended reporting period coverage purchased for claims-made policies, allowing claims to be reported after the policy expires for incidents that occurred during the policy period.

The date in a claims-made policy before which incidents are not covered, even if the claim is made during the policy period.

A business professional who analyzes probabilities of risk and risk management, including calculation of premiums, dividends, and other applicable insurance industry standards.

The written contract between the insurer and insured that outlines the terms, conditions, coverage, and exclusions of the insurance agreement.

The process by which an insurer evaluates the risk of insuring a person or property and determines coverage terms and premium rates.

Additional liability insurance that provides coverage beyond the limits of your standard policies.