Claims-made insurance policies, especially in professional liability and financial lines, have been around for decades. Most policyholders and insurers understand the purpose of a claims-made policy compared to an occurrence-based policy. Yet every so often a case comes along that raises a new wrinkle about claims-made coverage. In a recent case before the Seventh Circuit Court of Appeals the court had to determine whether a new argument made in an ongoing lawsuit was an independent “claim” for purposes of a claims-made professional liability policy.

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