Tell me if I'm wrong, but my understanding of a claims-made policy is that the claim has to be made while you are insured.  For example, if you had a claim in July for a search you did in February, but your E&O expired in  May, they will not honor the claim.  However, if you renewed your insurance in May, then the claim would be honored.  Considering most claims will probably not be found out during the insured period, you have to continue your E&O forever basically to be covered for future claims that may occur.  This kind of coverage sounds like it should be illegal in that it probably avoids more than it insures. 

 

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