It means that the professional indemnity insurance policy will only cover the claims that are
made during the tenure of the policy.
Not exact matches
During his
tenure, he
made the MTA the voice
of the profession and established the teachers union as a partner in developing and implementing state and federal
policy such as teacher - evaluation frameworks, new curriculum standards, district and school accountability measures, while strengthening labor - management collaboration focused on improving student achievement.
«Almost universally, Board members recognize that there is an issue
of «community» confidence in the Board related to fundamental
policy and financial decisions that were
made during the
tenure of the previous administration.»
Let's take an example, if a policyholder doesn't
make a claim
during the
tenure of his auto insurance
policy, he becomes eligible for No Claim Bonus, on the basis
of which, a certain rebate is offered on the payable premium.
During the course
of this long
policy tenure, you may need to get in touch with your insurer for various purposes like updating details about significant changes in your life,
making a fund switch or any other query on the product.
ULIP
policy holders can
make use
of features such as top - up facilities, switching between various funds
during the
tenure of the
policy, reduce or increase the level
of protection, options to surrender, additional riders to enhance coverage and returns as well as tax benefits.
If the insured dies or suffers permanent disability,
during the
tenure of the
policy, the beneficiaries will receive benefits to
make up for loss
of income or unpaid debts left behind.
Some insurers do not allow renewal
of the
policy if any claim is
made during the
policy tenure.
So, events happened
during the retro - active period could be claimed if the claim is
made during the
tenure of the insurance
policy.
Hence, there's no question
of making another claim
during that
policy tenure.
Also, any financial loss due to a false advice, the negligence, or the faulty analyses will only be covered if those mistakes were
made during the
tenure of the insurance
policy.
In case the applicant passes away
during the
tenure of the child plan, certain insurers offer the benefit
of premium waiver or self - funding
of premium, thereby
making it easy to continue the
policy without burdening the family member for premium payment.