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Insurance Glossary

The world of insurance for law firms can be confusing, and difficult to navigate. We've created this glossary because these common insurance terms should be easy to understand.

Retro-Date Inception

When a lawyer purchases a new LPLI policy, this concept refers to a policy that does not provide “prior acts coverage.” Instead, the LPLI policy only provides coverage for a claim that arises from Professional Services rendered on or after the original Effective Date of the first LPLI insurance policy purchased from the Insurer.