What it does
CG 00 02 provides the same three coverages as CG 00 01, but Coverages A and B are triggered on a claims-made basis: the injury, damage or offense must not occur before the Retroactive Date shown in the Declarations or after the end of the policy period, and the claim must be first made during the policy period or an Extended Reporting Period provided under Section V.
Who needs it
Manufacturers of long-tail products, pharmaceutical and chemical risks, and other accounts where insurers want to limit exposure to latent claims.
Key provisions and limits
- Basic and supplemental extended reporting periods are built into the form; ISO's supplemental ERP endorsements are CG 27 10 and CG 27 11.
- Endorsements written for CG 00 01 often have separate claims-made wording, as CG 21 44 does.
Quoting and selling notes
- Explain the retroactive date and the need for continuous coverage or tail when changing carriers.
- Contracts that require occurrence coverage will not be satisfied by CG 00 02.
Edition watch
ISO's 12 25 multistate revision (filing GL-2024-OFR24) has been approved in most states with an effective date of April 1, 2027. Until a carrier adopts it, policies continue to be issued on the 04 13 edition, so check the edition printed on the forms schedule of each quote and renewal.
Claims-made checklist
- Record the retroactive date and the first claims-made inception date.
- Before moving a claims-made account, get the new carrier to match the retroactive date or buy the supplemental tail (CG 27 10).
- Report circumstances before expiration where the form allows; late notice can lose coverage.
