Retroactive Coverage Date or Retroactive Date

Another industry-wide term commonly used in a Lawyers Professional Liability Insurance policy, the Retroactive Coverage Date is a date specified on the Declarations Page that defines the earliest date for which a Wrongful Act in the rendering of Professional Services will be covered under the LPLI policy. Any claim arising from a Wrongful Act that occurs prior to the Retroactive Coverage Date is not covered under an LPLI policy, even if the claim is first made and first reported to the Insurer during the policy period.  As a condition for coverage to exist for a claim, the claim must arise from a Wrongful Act that occurred on or after the Retroactive Coverage Date.