Consumer Protection Law
Consumer Protection Law Questions? Ask a Lawyer Now.
Welcome! My name is Maverick. Please give me a few minutes to analyze and/or research your inquiry and I will be back.
There are two types of policies:
1. An Occurrence policy protects you from any covered incident that “occurs” during the policy period, regardless of when a claim is filed. An occurrence policy will respond to claims that come in even after the policy has been canceled/expired ; so long as the incident occurred during the period in which coverage was in force.
2. Claims-made policies provide coverage for claims only when BOTH the alleged incident AND the resulting claim happen during the period the policy is in force. Claims made policies provide coverage so long as the insured continues to pay premiums for the initial policy and any subsequent renewals.
So you will need to read the policy to see which type it is; but it sounds to me that you may have an Occurrence policy based on the verbiage you cited.
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