What are Claims-Made policies and how do they differ from Occurrence?

Policies on a “claims made” basis cover claims reported during the policy term, regardless of the date of the original transaction. CRES E&O insurance, for example, is a “claims made” policy. Coverage is triggered by the date of the claim, rather than date of the original transaction.

In contrast, “occurrence” policies cover claims which occur as a result of actions during the policy term (like auto insurance), regardless of when reported.

This blog/website is made available by CRES Insurance Services for educational purposes to give you general information and understanding of legal risks and insurance options, not to provide specific legal advice. This blog/website should not be used as a substitute for competent legal advice from a licensed professional attorney in your state. Claims examples are for illustrative purposes only. Read your policy for a complete description of what is covered and excluded.

Originally Published January 5, 2017

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