Occurrence Insurance
/ˈɔːkərəns ɪnˈʃʊərəns/
Definitions
- (n.) A type of liability insurance that covers claims arising from incidents that occur during the policy period, regardless of when the claim is filed.
The company purchased occurrence insurance to protect against lawsuits for accidents that happened during the coverage term.
Forms
- occurrence insurance
- occurrence insurances
Related terms
See also
Commentary
Occurrence insurance is distinct from claims-made insurance by covering incidents during the policy period no matter when claims are made, which affects risk and premium calculations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.