full prior acts coverage
A claims-made liability policy that does not contain a retroactive date and
therefore covers claims arising from acts that took place at any time prior
to the inception date of the policy—regardless of how far in the past. More
often, however, prior acts coverage is written with a retroactive date. A claims-made
policy with a retroactive date will only cover claims from acts committed on
or after the retroactive date. Retroactive dates may be set at the inception
of the policy or some date prior to inception, often called "nose coverage."
In contrast, policies written with full prior acts coverage contain no such
limitations.
Links for IRMI Online Subscribers Only:
PLI VIII.D