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What is a claims-made policy?

claims-made policy
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What is a claims-made policy?

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E&O policies are written on a “Claims made” basis. That is, the policy in force at the time a ‘claim’ is made (as opposed to when the error may have been made) is the one that will provide coverage. As a condition of an E&O policy, it is imperative that you report actual claims or situations which may give rise to a claim to the Insurer as soon as possible.

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