Claims-made coverage

Claims-made coverage is a type of insurance where protection is provided only if the claim is made during the policy period. Essentially, it covers incidents that occur and are reported while the policy is active. If a claim arises after the policy has expired, it won’t be covered, even if the incident happened while the policy was in effect. This type of coverage is common in professional liability insurance, ensuring that professionals are protected from claims as long as they maintain their policy. It's important to purchase a tail extension if coverage needs to continue beyond the policy period.