Retroactive Insurance

What Does Retroactive Insurance Mean?

Retroactive insurance is a type of coverage that applies to losses that have already occurred but have not yet been reported. These losses may go unreported due to reasons such as being forgotten, not immediately recognized, or failing to file the necessary paperwork in time.

Insuranceopedia Explains Retroactive Insurance

Many insurance policies include retroactive dates, which specify the date before which the insurance company will not provide coverage. If a claim is filed for a loss that occurred before the retroactive date, it will not be covered. However, retroactive insurance can be purchased to extend coverage for losses that occurred prior to a specific retroactive date.