What does Retroactive Restoration mean? Read on to discover the definition & meaning of the term Retroactive Restoration - to help you better understand the language used in insurance policies.
Retroactive restoration occurs when an insured party does not lose any coverage after a covered claim is approved. Instead, the full coverage amount for the policy is automatically restored. This means that policyholders with policies that feature retroactive restoration will still have access to the full amount of coverage for the policy even if they have losses.
We hope the you have a better understanding of the meaning of Retroactive Restoration.