Retroactive date

Understanding retroactive dates

A retroactive date is an important feature commonly found in Professional Indemnity (PI) and other claims-made insurance policies. It refers to the date from which your policy will respond to claims arising from work, conduct or services you have performed.

In simple terms, as long as the work or conduct by the insured was completed on or after the retroactive date, and all other policy terms and conditions are met, the policy may provide cover for a claim made during the period of insurance.

Why is a retroactive date important?

A retroactive date helps determine whether a claim is eligible for coverage under your policy.

For example:

• Retroactive Date: 1 July 2020
• Claim Made: 1 August 2026
• Work Performed: 15 September 2021

As the work was carried out after the retroactive date and the claim was made while the policy was in force, the claim may be considered for coverage, subject to the policy terms and conditions.

However, if the work was performed before the retroactive date, the claim would generally not be covered.

Full prior acts cover

Some policies may show a retroactive date as "Unlimited", "Full Prior Acts", or "Not Applicable." This generally means there is no restriction on how far back your work can have been performed, provided all other policy conditions are satisfied.

Checking your retroactive date

Your retroactive date can typically be found on your policy schedule. It is important to review this date carefully, particularly when:

• Taking out a new policy
• Switching insurers
• Making changes to your business activities
• Renewing your cover

Need more information?

If you have questions about your retroactive date or would like to understand how it applies to your policy, please contact your local DUAL underwriter.