Q: Am I covered if I switch to FEDS Protection from another PLI provider and a new claim arises based upon an act committed prior to my FEDS Protection start date?
FEDS Protection is a claims-made policy. As such, there is no retroactive date for coverage purposes for claims made under the administrative/criminal portion of the policy. Accordingly, so long as you did not have actual knowledge of a claim or potential claim, you are covered for any prior acts, errors or omissions that result in a claim during the period that you are a policyholder with us. In other words, you are covered for decisions made prior to you purchasing a FEDS policy so long as you did not have actual knowledge of the claim or potential allegation.
For claims under the civil portion of the policy, we honor your original retroactive date; this is the first date you purchased continuous professional liability insurance with any provider. Please see Section I, Civil Suit Coverage, A. Insuring Agreement and Claims Made Clause ("effective date of continuous coverage"). Accordingly, if you first purchased professional liability insurance in January 1999, your "retro date" is January 1999 and you are covered for any civil claims that occur while you are a policyholder with FEDS for matters that involved acts, errors or omissions between January 1999 until the present.