I think marymaj86 has answered the question well. Perhaps what’s confusing you is that claims-made policies may very occasionally require both occurrence and reporting of claim incidents to fall within the policy period. However, as marymaj86 points out, you very often have a retroactive date within a claims-made policy. This allows for coverage of incidents in the past before the inception (or renewal) date as long as they occurred after the retroactive date.
You can also sometimes choose cover for incidents that occurred at any time in the past (as long as they are reported during the policy year). This appears to be the default assumption for claims-made policies in the Core Reading.
Good luck
Duncan
Last edited: Oct 12, 2011