Predecessor firm coverage

Term · Insurance and risk management · MLC-T-INS-002624

Insurance protection for claims arising from professional services rendered by a prior business entity that has been acquired by or merged into the current insured firm. This coverage extends the professional liability policy to cover acts, errors, or omissions that occurred before the effective date of the current policy but were committed by the predecessor firm. It addresses the continuity of liability when one professional practice takes over another.

Table 1. Record
Identifier	MLC-T-INS-002624
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-002624",
  "term": "Predecessor firm coverage",
  "field": "Insurance and risk management",
  "definition": "Insurance protection for claims arising from professional services rendered by a prior business entity that has been acquired by or merged into the current insured firm. This coverage extends the professional liability policy to cover acts, errors, or omissions that occurred before the effective date of the current policy but were committed by the predecessor firm. It addresses the continuity of liability when one professional practice takes over another.",
  "url": "https://mlchart.com/terminology/insurance/predecessor-firm-coverage/"
}

Record 2,661 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.