If you choose not to renew a policy as of June 30th, and a claim is made against you on July 30th for an incident that occurred on June 30th. According to your policy, you are not covered. This is what type of policy?

Question

Quizplus · Accepted Answer

This scenario describes a "Claims-made" policy, which provides coverage only if the policy is active both when the incident occurred and when the claim is filed. Since the policy was not renewed and was inactive at the time the claim was made, there is no coverage.

If You Choose Not to Renew a Policy as of June