Why this shows up
Many E&O and cyber policies are claims-made, so gaps in renewal, reporting, or retroactive dates can create problems.
What this changes for you
Claims-made wording makes timing very important. The policy period, retroactive date, reporting rules, and continuous coverage can all affect whether a future claim is covered.
What to check first
- What is the policy period?
- What is the retroactive date?
- How quickly must a claim or potential claim be reported?
Example contract wording
Coverage shall be maintained on a claims-made basis with prior acts coverage no later than the start of services.
What to do next
- Find the retroactive date on the quote or policy.
- Keep renewal dates organized so coverage does not lapse.
- Ask what to do if you learn about a possible claim.
Questions to ask
- What retroactive date applies?
- What happens if I switch carriers?
- Do I need tail coverage if I cancel or sell the business?
Common mistake
Thinking only the date of the work matters. With claims-made coverage, when the claim is made and reported can matter too.