Claims-Made Insurance Policies

Table of Contents

The legal question	3
Claims-Made policies defined	3
Occurrence Policy defined	4
Liability Awareness	4
Latent injury illustrated by asbestosis claims	7
Chart illustrating differences in policy type	8
Policy Triggers	9
Exposure Coverage Trigger Theory	10
Manifestation Coverage Trigger Theory	10
Continuous Coverage Trigger Theory	10
Injury-in-fact Coverage Trigger Theory	10
Insurance Agent’s E&O Claim Trigger	11
Trigger Language	12
“potential” claim reporting	12
Retroactive Dates	14
Full Prior Acts	15
Defining the Time of Loss	15
Changing Retroactive Dates	16
Extended Reporting Periods/Tail Insurance	17
“Runoff Provision”	19
Aggregate defined	19
Legal Defense Cost Provisions	20
Duty to defend broader than duty to indemnify	21
Defense reimbursement	22

Thank you,

United Insurance Educators, Inc.