Claims Occurrence Basis Liability Coverage
Method of determining whether or not coverage is available for a specific claim. If a claim arises out of an event during the period when a policy is in force, the insurance company is responsible for its payment, up to the limits of the policy, regardless of when the business submits the claim. Experts often suggest that it is extremely important, when purchasing a property and casualty insurance policy, to determine if claims are paid on a claims made basis or on a claims occurrence basis.
Popular Insurance Terms
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Written form which has precisely the same terms as the other property insurance policies covering a particular property. ...
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Specific values of securities computed annually by the national association of insurance commissioners (NAIC) as guidelines and procedures for insurance companies in listing of their ...
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