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What is the difference between a “claims made” policy and an “occurrence” policy?

April 26, 2017OCCURRENCE policy

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What is the difference between a “claims made” policy and an “occurrence” policy?

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“Occurrence” provides for an injury or damage which takes place during the policy period, regardless of when the claim is reported. Under “claims made”, coverage is provided for claims made and reported to the insurance company while the policy remains in force. 3.