Claims Made definition

Claims Made means policies written under a claims-made basis will cover claims made (reported or filed) during the year the policy is in force for incidents which occur that year or during any previous period the policyholder was insured under the claims-made contract. This form of coverage is in contrast to the occurrence policy which covers today’s incident regardless of when a claim is filed even if it is one or more years later.

Claims Made. Coverage. If any required insurance is written on a “claims made” form, Contractor shall maintain the coverage continuously throughout the Term, and, without lapse, for three years beyond the termination or expiration of this Agreement and the JBE’s acceptance of all Work provided under this Agreement. The retroactive date or “prior acts inclusion date” of any “claims made” policy must be no later than the date that Work commences under this Agreement.

Claims Made basis: If the liability insurance purchased by the Contractor has been issued on a “claims made” basis, the Contractor must comply with the following additional conditions. The limits of liability and the extensions to be included as described previously in these provisions, remain the same. The Contractor must either:

Examples of Claims Made in a sentence

• If coverage is provided on a claims made basis, then either an extended reporting period of not less than 24 months shall be included in the Professional Liability insurance coverage, or the Grantee/Recipient shall provide Continuous Claims Made coverage as stated below.

• Professional Liability $1,000,000 per Claim $2,000,000 Aggregate Any entity hired to perform professional services as a part of this Agreement shall maintain professional liability coverage on an Occurrence Form or a Claims Made Form with a retroactive date to at least the Effective Date of this Agreement and with a three (3) year reporting option beyond the annual expiration date of the policy.

• If the Abuse and Molestation coverage is provided on a Claims Made Form, the retroactive date must be no later than the first date of this Agreement and such claims-made coverage must respond to all claims reported within three (3) years following the period for which coverage is required.

• Claims Made Coverage with limits of at least $2,000,000 per claim, and at least $4,000,000 aggregate.

• Professional Liability $1,000,000 per Claim and Aggregate (Including Medical Malpractice when applicable) Any entity performing or hired to perform professional services as a part of this Agreement shall maintain professional liability coverage on an Occurrence Form or a Claims Made Form with a retroactive date to at least the first date of this Agreement and with a three year reporting option beyond the annual expiration date of the policy.

More Definitions of Claims Made

Claims Made as used herein shall mean (A) In respect of Claims Made Policies, claims first notified to the Company during the term of this Agreement on any in force policy or reporting endorsement arising out of incidents subsequent to the retroactive date of said policy as the result of the rendering of or failure to render a professional service or the reporting of losses which arise from the insured premises and operations incidental to the practice of a physician, hospital or managed care organization and/or (B) In respect of Occurrence Policies, claims or losses first notified to the Company during the term of this Agreement.

Claims Made basis of Cover means that We only Cover Claims first made against You during the Period of Cover. You must advise Us during the Period of Cover of any Claim first made against You by another party. If You do not notify Us during the Period of Cover You may not be Covered under this Policy.

Claims Made as used herein shall mean claims first reported to the Company during the period January 1, 1986 to December 31, 1989 and first reported to the Reinsurer during the term of this Agreement.

Claims Made policies, CONTRACTOR shall agree to maintain coverage for two (2) years following 11 the completion of the Agreement.

Claims Made policy(ies), CONTRACTOR shall agree to maintain coverage for two (2) years 32 following the completion of the Agreement.

Claims Made coverage is unacceptable, with the exception of Professional Liability. The Contractor agrees that he/she will not use the defense of Governmental immunity in the adjustment of claims or in the defense of any suit, unless requested by the State.

Claims Made means the malpractice insurance policy responds if it is in place at the time in which a claim for damages or other relief is made against a member;