Master Claims Made vs Occurrence Insurance Secrets Today

Occurrence Insurance: What You Need to Know

Occurrence policies, on the other hand, provide coverage for incidents that occur during the policy period, regardless of when the claim is filed. This means that even if a claim is made years later, the policy in effect at the time of the incident will cover it. This can offer peace of mind and is often preferred by businesses with long-tail liabilities. Although occurrence policies generally come with higher premiums, they eliminate the need for tail coverage, making them a stable option for those who want comprehensive long-term protection².