It looks like it's the report that has to be by August 1, i.e. they'll only cover past damage that has already been reported, before this announcement. Probably to cap their otherwise potentially unlimited liability for people "discovering" past damage after this policy was announced, while still expeditiously resolving any currently-open complaints. Then, starting August 15, they'll have a normal, forward-looking insurance program in place.

we are covering all incidents retroactively, including EJ's and Troy's.

Thanks! I assumed that was the intent, I just found the way the threshold dates were described a little buggy.