Claims-made policy

Term · Insurance and risk management · MLC-T-INS-000769

An insurance policy that covers claims first made against the insured and reported to the insurer during the policy period, or during an extended reporting period, regardless of when the actual incident occurred. This type of policy is commonly used for professional liability, directors and officers, and environmental liability insurance. It contrasts with an occurrence policy, which covers incidents that happen during the policy period.

Table 1. Record
Identifier	MLC-T-INS-000769
Field	Insurance and risk management
Subject	Commercial Liability

Record as JSON

{
  "id": "MLC-T-INS-000769",
  "term": "Claims-made policy",
  "field": "Insurance and risk management",
  "definition": "An insurance policy that covers claims first made against the insured and reported to the insurer during the policy period, or during an extended reporting period, regardless of when the actual incident occurred. This type of policy is commonly used for professional liability, directors and officers, and environmental liability insurance. It contrasts with an occurrence policy, which covers incidents that happen during the policy period.",
  "subject": "Commercial Liability",
  "url": "https://mlchart.com/terminology/insurance/claims-made-policy/"
}

Record 546 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.