Claims Occurred: Difference between revisions
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PaulWaring (talk | contribs) Created page with "The vast majority of insurance policies are sold on a Claims Occurrences basis. This means that the claim is covered by the policy which was in force at the time of the incident which caused the claim. In most cases this will be the current or previous year's policy, however for long-tail risks (e.g. asbestosis claims under employer's liability) this could be a policy written decades ago. The alternative mechanism is Claims Made." |
PaulWaring (talk | contribs) m PaulWaring moved page Claims Occurrences to Claims Occurred |
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Revision as of 09:43, 12 August 2025
The vast majority of insurance policies are sold on a Claims Occurrences basis. This means that the claim is covered by the policy which was in force at the time of the incident which caused the claim. In most cases this will be the current or previous year's policy, however for long-tail risks (e.g. asbestosis claims under employer's liability) this could be a policy written decades ago.
The alternative mechanism is Claims Made.