Glossary

Claims-made policy

A liability policy that covers claims first made against you and reported to the insurer during the policy period, whenever the underlying act occurred.

Also called: claims-made coverage, claims-made and reported, claims-made form, CG 00 02

A claims-made policy responds to the claim, not the event. Coverage applies if the claim is first made against you and reported to the insurer while the policy is in force, and the wrongful act happened on or after the policy's retroactive date. It is the standard form for professional liability, directors and officers, employment practices and most cyber policies. ISO also publishes a claims-made general liability form, CG 00 02, for products and other exposures.

Contrast an occurrence policy, which covers injury that happens during the policy period no matter when the claim arrives. Say an architect designs a building in 2023 and is sued in 2027. Only a claims-made policy in force in 2027, with a retroactive date before 2023, would respond. If the architect retires or switches carriers and the retroactive date resets, the claim falls into a gap unless an extended reporting period was bought.

Three habits matter: keep continuous coverage with the same retroactive date, report claims and circumstances promptly because late reporting can void coverage, and price the tail when you leave. Defense costs often erode the limit. The guide on occurrence vs claims-made policies covers the trade-offs, and tail coverage explains what to buy when the policy ends.

Last reviewed October 10, 2026

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Related terms

Occurrence policy A liability policy that covers injury or damage happening during the policy period, no matter when the claim is made, even after the policy has expired. Retroactive date The date in a claims-made policy before which wrongful acts are not covered, even if the claim is made and reported while the policy is in force. Extended reporting period A window after a claims-made policy ends during which claims can still be reported for incidents that happened while the coverage was in force. Tail coverage An option that lets a claims-made policyholder report claims after the policy ends, for wrongful acts that happened while it was in force. Prior acts coverage Coverage under a claims-made policy for wrongful acts committed before the policy began, reaching back to its retroactive date or without a limit.

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At-Bay Cyber, tech E&O and MPL insurer for small and midsize firms, sold through brokers on its own E&S paper. Munich Re agreed to buy it in August 2026. Embroker Digital insurance broker and MGA for startups, tech companies and law firms. Its own programs are written on Everest National and Everspan paper. MagMutual Atlanta-based physician-owned mutual that insures doctors, medical groups and hospitals for malpractice; online quoting for physicians, rated A (Excellent). ProAssurance Birmingham-based medical malpractice, med-tech products and workers' comp insurer, owned by The Doctors Company since June 2026 after a $1.3 billion takeover. The Doctors Company Physician-owned med mal insurer based in Napa, California, covering doctors, dentists, clinicians and hospitals. It bought ProAssurance in June 2026.

Related industries

Accountant and tax preparer insurance What CPA firms, bookkeepers and tax preparers need: accountants E&O (claims-made), cyber for taxpayer data, crime, EPLI and a BOP for the office. Architect and engineer insurance What design firms need: practice and project professional liability, contract clauses that void cover, GL, cyber, pollution and a BOP for the office. Chiropractor insurance What chiropractic practices need: malpractice with true consent to settle and tail, BOP, cyber and HIPAA, billing-audit defense, workers' comp and EPLI. Consultant insurance Professional liability (E&O) is the core cover for consultants; also GL, cyber, contract requirements and the home-office and subcontractor traps. Dental practice insurance What dental practices need: professional liability with consent to settle and board defense, BOP, cyber and HIPAA cover, workers' comp, EPLI and DSO structures. Film production insurance What film and video producers need: a production package (cast, media, equipment, extra expense), GL, E&O, auto and comp, and permit and location rules.

Related tools

Tail coverage cost calculator Prices an extended reporting period on a claims-made policy at your policy's percentages and compares it with nose (prior-acts) coverage from a new insurer.

Related en español

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