Claims-made reinsurance

{
  "id": "MLC-T-INS-000770",
  "term": "Claims-made reinsurance",
  "field": "Insurance and risk management",
  "definition": "A form of reinsurance where coverage is triggered when a claim is first reported to the reinsured during the reinsurance policy period, regardless of when the actual loss event occurred. This contrasts with occurrence-based reinsurance, which covers losses that happen during the policy period, even if reported later. Claims-made reinsurance is frequently used for professional liability and directors and officers (D&O) insurance.",
  "url": "https://mlchart.com/terminology/insurance/claims-made-reinsurance/"
}