Claims
Discovery Rule
A legal doctrine applied in many states that delays the start of the statute of limitations for a malpractice claim until the client discovers, or reasonably should have discovered, the alleged harm. The discovery rule can significantly extend the period during which a claim may be filed, sometimes years after the underlying legal work was performed, making long-term prior acts coverage essential.
Related terms
Claims-Made PolicyA type of insurance policy that provides coverage only when a claim is first reported to the insurer...Prior Acts DateAlso called the retroactive date, this is the earliest date from which a claims-made policy will cov...Statute of LimitationsThe legally prescribed time period within which a malpractice claim must be filed after the alleged ...