Claims-made policy

A claims-made policy is a type of insurance coverage that protects you against claims made during the policy period, regardless of when the incident occurred, as long as the event is reported while the policy is active. For instance, if an incident happens in 2020 but a claim is filed in 2023, you’re covered only if you have a valid policy during both years. This differs from occurrence policies, which cover incidents based on when they happened, regardless of when the claim is filed. Claims-made policies typically require continuous coverage for ongoing protection.