A liability insurance method covering losses from claims asserted against the insured during the policy period, regardless of whether the liability-imposing causes occurred during or prior to the policy period. (However, many underwriters may not cover liability-imposing causes occurring prior to the policy period.) The coverage trigger is based on the retroactive date stated in the Declarations.

see INSURANCE.

A form of cover where only claims notified during the period of insurance or reinsurance are covered. See also LOSSES OCCURRING and RISKS ATTACHING.

When insurance is taken out, it will be necessary to agree and appreciate precisely the period covered, including whether you want pre-policy cover and whether you wish to insure against claims made during the period of insurance or claims based on incidents during the period of insurance. This will need to be addressed with your broker and insurer.