PI Insurance is (almost?) always underwritten on a "Date Claims Made" basis rather than a "Date Loss Occurred" basis which means you must have currently valid insurance at the date you make the claim against it.
They are insuring you against the likelihood of you making a claim in a 12 month period. There will be a limit on the amount you can claim in total in that 12 months usually - e.g. £1M.
They are insuring you against the likelihood of you making a claim in a 12 month period. There will be a limit on the amount you can claim in total in that 12 months usually - e.g. £1M.
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