Learn about retroactive dates in insurance: their importance, how they impact your claims-made professional liability or E&O insurance, and the potential risks of coverage gaps.

Understanding insurance can be tough. Here's a simpler look at 'Claims-Made' policies: these are designed to cover incidents that both occur and are reported within certain time frames. This typically makes them a cheaper option as they cover a shorter period. Key takeaway? Make sure to report any incidents within your policy period to ensure coverage. Better understanding = smarter insurance decisions.