What is Retroactive Coverage?
Retroactive Coverage Insurance protection that applies to losses occurring prior to the inception date of the policy, typically in claims-made liability insurance, subject to specified retroactive dates.
Source: CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
How is “Retroactive Coverage” Used in Practice?
Retroactive coverage ensures claims arising from incidents prior to policy inception are covered, subject to the retroactive date.
Certification Exam Relevance
Who Needs to Know This Term?
- Financial Analysts
- Bankers
- Traders
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What is Retroactive Coverage?
Insurance protection that applies to losses occurring prior to the inception date of the policy, typically in claims-made liability insurance, subject to specified retroactive dates.
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