Insurance Defense and Coverage
Policy Anatomy
The policy period runs from the inception date to the expiration date shown on the declarations page. For occurrence policies it determines which injuries are covered based on when they occurred; for claims-made policies it determines which claims are covered based on when they were made.
Coverage generally attaches at 12:01 a.m. on the inception date at the address shown.
Alternative Names:
Coverage Period, Policy Term
Why it Matters?
The interaction between policy period and coverage trigger is where long-tail claims become complicated, since injury occurring across multiple years implicates multiple policies with different limits, terms, and carriers. Establishing precisely when injury occurred, and which policies were in force then, is the foundation of allocation analysis in environmental, asbestos, and construction defect claims.
Frequently Confused with
Related terms
Frequently asked questions
Does the policy period determine coverage by itself?
What happens when injury spans multiple periods?
