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Once a claims made policy expires, the insurer is not liable to provide indemnity for circumstances that have not been advised to them before expiry. A retiring partner, or business which has been sold, will need to ensure that cover is kept in force for a reasonable period of time to cover the “run-off” of potential incidents which have happened but are yet to be reported as claims. Insurers and reinsurers also have “run off’ exposure where they cease underwriting certain types of risk but claims that occurred during the periods of insurance continue to be notified in subsequent years.