Retroactive insurance

Term · Insurance and risk management · MLC-T-INS-002937

Coverage purchased for losses that have already occurred but have not yet been reported or fully developed. This type of insurance is often used in situations where there is a delay between the occurrence of a loss and its discovery, such as environmental liability or professional malpractice. It provides protection for past events that become known during the policy term.

Table 1. Record
Identifier	MLC-T-INS-002937
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-002937",
  "term": "Retroactive insurance",
  "field": "Insurance and risk management",
  "definition": "Coverage purchased for losses that have already occurred but have not yet been reported or fully developed. This type of insurance is often used in situations where there is a delay between the occurrence of a loss and its discovery, such as environmental liability or professional malpractice. It provides protection for past events that become known during the policy term.",
  "url": "https://mlchart.com/terminology/insurance/retroactive-insurance/"
}

Record 2,976 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.