Which of the following insurance policies covers incidents that occurred before the beginning of the new insurance relationship but that have not yet been brought to the insured's attention as a claim?

Question

Quizplus · Accepted Answer

Prior acts coverage, also known as retroactive coverage, provides coverage for incidents that occurred before the beginning of the new insurance relationship but that have not yet been brought to the insured's attention as a claim. This is typically found in professional liability insurance policies, such as malpractice insurance for doctors or errors and omissions insurance for lawyers. Self-insured coverage and liability coverage are generic types of insurance and do not specifically address incidents that occurred prior to the beginning of the insurance relationship. Claims-made coverage only covers claims that are made during the policy period, regardless of when the incident actually occurred. Occurrence coverage covers incidents that occurred during the policy period, regardless of when the claim is actually made.

Which of the Following Insurance Policies Covers Incidents That Occurred