The conditions of modern insurance allowapply various ways to cover possible losses. One of the methods used is the insurance of the past tense - the so-called insurance in the retroactive period. This type of compensation is applied in contracts concluded between legal entities in various areas of economic activity.
What is a "retroactive period"?
A retroactive period is called the expiration periodinsurance policy agreed upon by both parties. The insurance period starts on the dates preceding the date of conclusion of the insurance contract, and ends with the date of the policy statement. All insured events occurring in a given period are covered from the amount of insurance compensation.
Typical items in the insurance contract
In insurance contracts, the retroactive period of insurance is a temporary factor on which the payment of compensation for the event that occurred before the signing of the contract depends.
There are two types of this period:
- Annual basis of the contract.In this case, the date of the insurance period report starts from the moment the organization is allowed to perform the work. The damage covered in case of occurrence of an insured event must be caused not earlier than three years before the insurance period.
- Project base of the agreement. The retroactive period is counted from the beginning of the work.
Consideration of claims
Priority direction of implementation (after-insurance) is the construction, insurance of financial risks.
The essence of compensation is to compensateThe losses that have been identified by already performed work. However, this rule is valid only if, at the time of registration of the insurance policy, the beneficiary was not aware of the existing miscalculations and should not have known (did not receive letters, orders or service notes on the fact of finding the shortcomings).
The question of including the past period in actioninsurance was repeatedly considered by arbitration courts. But the basic rule is that a retroactive period can be considered as such only if the parties agree. Even if the parties assume the existence of such an item, but do not include it in the insurance conditions, damages may be refused.
If the insured person knew about the miscalculations, nevertheless bought the policy, then such actions are regarded as fraud.