Occurrence Policy
A policy that responds to injury or damage that happens during the policy period, even if the claim comes years later. Most general liability policies work this way.
What it means for your firm
The policy in force when the injury or damage happened is the one that responds, no matter when the claim is filed.
General liability is usually written this way. Professional liability usually is not, which is why the two behave so differently over time.
Articles that explain it
General definition for education only. It is not an interpretation of any policy or contract, and it is not legal advice. The wording of your own policy and contract controls. Policies and definitions vary by insurance company.
Tell Us About Your Firm. We’ll Tell You What We See.
Starting out or renewing, with a policy in hand or not. If something is worth discussing, we’ll call. If not, we’ll say so.