What does Backdated Liability Insurance mean? Read on to discover the definition & meaning of the term Backdated Liability Insurance - to help you better understand the language used in insurance policies.
Backdated Liability Insurance
Coverage procured for claims after a loss event has actually happened. This type of coverage is offered when the amount of the claim is very uncertain and potentially long delays in payment may result. The premium charged by the insurer, coupled with its investment value, is calculated to be sufficient to cover all the claims from the incident. This is not a commonly available type of coverage.
We hope the you have a better understanding of the meaning of Backdated Liability Insurance.