Claims-made and reported provision

Term · Insurance and risk management · MLC-T-INS-000765

A clause in a liability insurance policy specifying that coverage applies only if a claim is both made against the insured and reported to the insurer during the policy period or an extended reporting period. This provision is common in professional liability and directors and officers (D&O) policies. It contrasts with an occurrence policy, which covers incidents that occur during the policy period regardless of when reported.

Table 1. Record
Identifier	MLC-T-INS-000765
Field	Insurance and risk management
Subject	Management Liability

Record as JSON

{
  "id": "MLC-T-INS-000765",
  "term": "Claims-made and reported provision",
  "field": "Insurance and risk management",
  "definition": "A clause in a liability insurance policy specifying that coverage applies only if a claim is both made against the insured and reported to the insurer during the policy period or an extended reporting period. This provision is common in professional liability and directors and officers (D&O) policies. It contrasts with an occurrence policy, which covers incidents that occur during the policy period regardless of when reported.",
  "subject": "Management Liability",
  "url": "https://mlchart.com/terminology/insurance/claims-made-and-reported-provision/"
}

Record 555 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.