Legal Definitions - discovery policy

A discovery policy is a type of insurance policy that falls under the category of claims-made policies. It is an agreement to indemnify against all claims made during a specified period, regardless of when the incidents that gave rise to the claims occurred.

• If a doctor has a discovery policy, they are covered for any claims made against them during the policy period, even if the incident that led to the claim happened before the policy was in effect.
• A lawyer with a discovery policy is protected against any claims made during the policy period, regardless of when the alleged malpractice occurred.

These examples illustrate how a discovery policy provides coverage for claims made during the policy period, regardless of when the incident occurred. This type of policy is useful for professionals who may face claims long after the work was completed, such as doctors, lawyers, and architects.