Get DATE (MM/DD/YYYY) GENERAL LIABILITY NOTICE OF OCCURRENCE / CLAIM AGENCY INSURED LOCATION CODE DATE

A retroactive date is the date from which you have held uninterrupted professional indemnity insurance cover (even if you changed insurer during this time) or a date in the past from which your insurer has agreed to cover you. Any claims that arise from events prior to this date is not covered by your insurance.

The retroactive date is typically based on the date from which the insured has had (uninterrupted) professional liability coverage. Retroactive dates often pre-date the policy's inception, potentially providing coverage for claims that arise from acts or omissions taking place prior to the policy's inception date.

An occurrence policy has lifetime coverage for the incidents that occur during a policy period, regardless of when the claim is reported. A claims-made policy only covers incidents that happen and are reported within the policy's timeframe, unless a “tail” is purchased.

Unlike claims-made policies, occurrence policies cover you for any event happening while you were insured, even if the claim is filed years after your policy expired. However, they don't have a retroactive date, which means your coverage for incidents begins at your policy's inception and not before.

A retroactive date defines how far back in time a loss can occur for your policy to cover your claim. If a claim happens prior to your retroactive date, your policy won't provide benefits. It's a feature of claims-made professional liability or errors and omissions insurance.

A retroactive date hence fills this gap. For example, as a doctor, you purchase your first professional indemnity insurance for doctors cover on 01st Jan 2020 for six months. After a gap of 4 months, you purchase the next cover, dated 01st Nov 2020.

In many instances, they are the same if there's been no break in continuity. The retro date is the earliest possible date for which you can claim your D&O policy. The continuity date is the earliest date of continuous coverage before a break or gap in that coverage.

A retroactive date is a provision found in many (although not all) claims-made policies that eliminates coverage for claims produced by wrongful acts that took place prior to a specified date, even if the claim is first made during the policy period.