Claims-Made Policy

Plain English Definition: Insurance coverage that applies only to claims made during the policy period.

What Claims-Made Policy really means for someone with an insurance policy

A Claims-Made Policy covers claims reported while the policy is active, regardless of when the incident occurred, provided it’s within the policy’s terms.

Claims-Made Policy Real World Examples

• Medical malpractice insurance covering a lawsuit filed during the policy term.
• Professional liability insurance for a financial advisor.
• Errors and omissions coverage for a consulting firm.