Frequently Asked Questions

What is Claims-Made Coverage?


Claims-Made Coverage provides coverage for injuries that: (1) occur on or after the retroactive date of your policy and before your policy expires; and (2) are reported in writing before the policy expires, non-renews or is cancelled. Upon cancellation you have the option to purchase an Extended Reporting Endorsement, also known as Tail Coverage, which allows claims to be reported for an unlimited period of time provided the injury occurred on or after the retroactive date and before the policy expired, non-renewed or was cancelled. Please note Tail Coverage may not be available if your policy is cancelled due to non-payment of premium. During the first few years, Claims-Made policy rates are generally lower than occurrence policy rates. However, there is a yearly increase until the Claims-Made policy reaches maturity.

If you’re coming to PSIC from another carrier’s claims-made policy, ask about providing coverage back to your original claims-made retroactive date. This important feature gives you protection for claims that may eventually be filed as a result of incidents that occurred after your original retroactive date and prior to the effective date of your PSIC policy.

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