Thus, an occurrence may happen before or during the policy period, as long as the injury or damage it causes occurs during the policy period. Claims may be made during the policy period or anytime thereafter. A key advantage of an occurrence policy is that it covers claims filed many yea...
A claims-made policy protects a business owner from incidents that occur and are reported during the policy’s term. An occurrence policy provides coverage during a specific term but will allow you to report claims after the policy term. The key differences between claims-made and occurrence pol...
Claims-made policies require that claims be filed during policy periods, whereas occurrence policies allow an unlimited filing time but stipulate that injuries must occur while policies are in force. Occurrence and personal injury are similar, but the latter requires that injuries be intentional, not...
Claims-made insurance allows for a close match between premium dollars and claims. Shortly after the expiration of a claims-made policy, an insurer can close its books and determine its profit or loss. Under an occurrence policy, an insurer cannot determine its profit or loss for decades becaus...
It outlines the characteristics and coverage of the occurrence liability policy where covered event must take place during the policy term and the claims-made policy where retroactive date is a negotiable term. It also notes the minimum standards for the claims-made policies and the insurance ...
a(a) at the port where the occurrence took place, or if it took place out of port, at the first port of call; or (b) at the port of disembarkation in respect of claims for loss of life or personal injury; or (c) at the port of discharge in respect of damage to cargo; or (...
Of course arguments can be made for an occurrence... MA Terrell - 《Cds Review》 被引量: 0发表: 2005年 Professional liability Consider the benefits of professional liability coverage based on an occurrence policy versus a claims-made coverage policy and you will understand why the ... MA ...
It seems reasonable to explain the co-occurrence of claims of fact with claims of policy and value as an attempt to reach multiple audiences with different needs. And this could be a direct response to Design Studies’ call for papers that are “written to be intelligible and pertinent to a...
Policy number Address Type of claim (winter storm, hurricane, flood, fire, etc.) Description of damage to your home and personal belongings Keep in mind that a property claim can be denied if you don’t comply with the stated time limits in your policy contract. Regardless of whether or ...
Some insurance companies offer limited versions of the claims-made policy, known as the claims-made and reported policy, which covers claims made against the insured and reported within a policy period. Occurrence policies cover the insured for claim events occurring during the life of the policy ...