What does claims made insurance coverage mean?
Most E&O policies are written on a “claims made” or claims made and reported” form. This means that any claims must be made or, in some cases, made and reported, within the policy period. These policies have a retroactive date that becomes very important. Claims that arise out of accts committed prior to the retroactive date will not be covered. The farther back the retroactive date, the more coverage provided.
