7. Claims Made Policies
Certain liability policies such as Professional Indemnity, Directors and Officers and
Products liability policies are commonly written on a “claims made” wording which means
that only those claims (actual or potential) which are reported to the insurer during the
currency of the policy will be admitted.
You must therefore, make careful enquiry to ensure that all known claims against you, and
any circumstances which may give rise to a claim, have been disclosed to insurers prior to
expiry of each policy year