Call Us Today For A Free Quote | 866.940.1101
Professionals Insuring Professionals

Attorney Malpractice Insurance PolicyAttorney Malpractice insurance policies have a Retro Active date sometimes called a Prior Acts date.  But some attorney malpractice policies do not.  These attorney malpractice insurance policies are Full Prior Acts (FPA).  An FPA claims-made liability policy that does not contain a retroactive date will cover claims arising from covered acts back to the inception date of continuous claims made coverage for the firm.  

And the difference means?

Firm with a prior acts date:

The insured has a claims-made policy that includes a January 1, 2000, retroactive date and a January 1, 2018–19, policy term. If a claim is made against the insured on February 1, 2018, and the claim arose from a wrongful act that took place on January 1, 1998, there would be no coverage under the policy. This is because the wrongful act took place prior to the January 1, 2000, retroactive date.

Firm has FPA (Full Prior Acts):

This insured has a policy term of January 1, 2018–19 but the policy contains no retroactive date.  Firm has had continuous claims made coverage back to the firm’s inception. If a claim were made against the insured on February 1, 2018, from a wrongful act that took place on January 1, 1998, coverage would apply because the absence of a retroactive date or an endorsement stating FPA meaning that regardless of how far in the past that a wrongful act that gives rise to a claim took place, the claim will be covered (assuming claim is made during the policy period).  

Can any firm get an FPA (Full Prior Acts) Policy?

FPA is normally written for an insured firm that already has coverage in place at the time it submits an application. Insurers rarely write FPA for insureds that have not previously purchased attorney malpractice insurance. Insurers do not want to ‘buy’ a past potential claim, by endorsing a policy FPA. 

Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2013
  • 2011

View Mobile Version
Quick Contact
We love referrals! And thank you even more for your continued business.
Customer Service
Self policy service any time of the day, directly from our website.
Join Our Newsletter
Stay in touch with the latest events, news and offers we have.
From Our Blog From Our Customers
Read More Read More
Facebook Twitter LinkedIn Google Maps
Stay In Touch With Us Helpful Site Links Contact Us
Sign up now to receive new and updates 5075 Cascade Rd. SE, Ste. E
Grand Rapids, MI 49546

Local: 616.940.1101
Toll Free: 866.940.1101
We have the expertise to find you the right coverage at the right price 
Powered by Insurance Website Builder