What does Discovery Rule mean? Read on to discover the definition & meaning of the term Discovery Rule - to help you better understand the language used in insurance policies.
A rule of common law indicating that the statute of limitations on bringing a claim does not begin to run until the date on which a claimant actually discovers (or should have discovered) an injury or loss rather than on the date when the wrongful act giving rise to the injury or loss took place. The rule has the effect of lengthening the normal statute of limitations applicable to many types of claims.
We hope the you have a better understanding of the meaning of Discovery Rule.