Because a date-recognition problem may not manifest itself until months or even years later, some D&O insurers may still issue new and renewal policies with a date-recognition exclusion. Once a date-recognition problem is discovered, insureds could present a claim on a new or renewal policies that provide coverage for prior acts. Other insurers may instead require completion of a date-recognition exposure questionnaire in addition to initial or renewal coverage applications. For the most part, these insurers simply want to limit the potential for late-reported date-recognition claims by making sure the insured has taken the necessary measures to correct potential date-recognition problems. However, extreme care should be taken when completing any questionnaire to avoid post-claim arguments about misrepresentations regarding date-recognition compliance. If the insured misstates the organization's status regarding such compliance, the insurer may seek to avoid coverage if a date-recognition claim is filed. Additional information on this subject is provided in the Terms and Conditions section, Application article. See The D&O Insurance Application section on Year 2000 application questions.

It is important that D&O policies and endorsements be carefully reviewed to determine the impact of any date-recognition exclusion on coverage. Such exclusions should be avoided whenever possible.