An excess of loss reinsurance contract under which the reinsurer pays losses if the claim is made during the policy period in respect of occurrences after the retroactive date. It overcomes the difficulty associated with long tail cases of having to ascertain the time of the occurrence. The treaty usually incorporates an extended reporting period and incorporates the claims-made trigger of the underlying liability policy. Compare with LOSSES-OCCURRING REINSURANCE and see RISKS ATTACHING.