Mature claims-made

{
  "id": "MLC-T-INS-002142",
  "term": "Mature claims-made",
  "field": "Insurance and risk management",
  "definition": "A claims-made liability insurance policy that has been in force for several years, typically five or more, and has reached a stable premium level because the likelihood of reporting new claims from prior policy periods has significantly decreased. The premium for a mature claims-made policy reflects the expected frequency and severity of claims arising from current and recent policy years. It contrasts with the lower initial premiums of a new claims-made policy.",
  "url": "https://mlchart.com/terminology/insurance/mature-claims-made/"
}