Retroactive Assistance for Liability Claims

The claims process for many liability insurance plans is limited to the reporting period for which the policy is written. Therefore, coverage could be extended to claims that are made within an active policy and denied if filed after the coverage period has expired. However, there are some industries or professions where claims may arise long after a policy has been active, leaving an individual or company responsible for the costs of resolution. Rather than take chances with this exposure, the team at recommends that those who purchase liability insurance strongly consider including prior acts coverage.

Understanding Prior Acts

Including prior acts in the policy allows claims to be made for insurable events even if the act occurred prior to the origination of the current policy. For example, a surgeon has just changed providers for his malpractice insurance. However, a claim arises from an incident that happened eight months ago. Prior acts coverage could allow the current policy to be retroactive in addressing the situation.  Insurance providers will usually establish a retroactive date that determines how far back coverage may be extended. Coverage areas may include:

  • Legal assistance cost
  • Actual or simply alleged negligence
  • Claims and damages
  • Personal injury

The extent of a policy’s terms and coverage is determined by need and what the provider allows. If you are in the process of switching providers, don’t forget to check on potential prior acts inclusion.


Protect Your Personal Assets with Renter’s Insurance

Moving into a new apartment can be an exhilarating experience, but don’t let yourself become blindsided and forget to protect your assets. While the landlord will have insurance to cover damages to the structure of their building, it does not cover personal belongings inside an apartment. For this, you will need to look for the best renters insurance in NJ. When researching insurance policies, there are three areas to focus on.

1.Protection of Personal Property

Everything you own within the walls of your apartment can be covered by renters insurance. In the case of vandalism, theft or fire, the policy can cover the cost of replacing:


While researching the best renters insurance in NJ, keep in mind that policies will not cover damage due to earthquakes, hurricanes or flooding.

2. Loss of Use

If an accident which makes your home unlivable until repairs can be completed, then renters insurance can cover costs associated with having to live elsewhere. Depending on your circumstances, this can include:

Travel expenses
Hotel Accommodations
Food expenses

3. Liability Coverage

Liability will cover expenses that may occur due to a negligent act on your part that causes bodily injury or property damage to someone else.
It is better to have too much protection instead of too little. Protect your assets by purchasing renters insurance that fits your needs.