If a policy is written on a claims-made basis, the insurer is liable only if the:

Question

Quizplus · Accepted Answer

With a claims-made policy, coverage is triggered only if a claim is reported or made during the policy period and the incident causing the claim occurred on or after the retroactive date of the policy. Option A and B are incorrect as the policy only covers claims made within the policy period. Option C is incorrect as occurrence policies cover incidents that happen during the policy period, while claims made policies are limited to claims that are reported within the policy period.

If a Policy Is Written on a Claims-Made Basis, the Insurer