Keyword Analysis & Research: claims made vs occurrence policy tail


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Frequently Asked Questions

Do you need occurrence or claims-made policies?

Do You Need Occurrence or Claims-Made Policies? An occurrence policy affords lifetime coverage to the policyholder for any claims that occur during the policy period. A claims-made insurance policy covers claims that occur and are made during the life of the insurance policy unless you buy tail coverage. Let’s dive deeper into each one ...

Do I need tail coverage if I have an occurrence policy?

Do I Need Tail Coverage If I Have an Occurrence Policy? No, you don’t need tail coverage if you have an occurrence policy. That’s because you’ll get coverage for a claim if the incident occurred during the policy period – even if you’re reporting claims after your policy’s expiration date. So, tail coverage isn’t needed.

What happens if a claims-made policy is cancelled?

Since the claims-made policy has now expired, there would be no coverage. When a claims-made policy is cancelled it is possible to purchase an Extended Reporting Period endorsement, or ‘tail coverage.’ Tail coverage extends the time alleged incidents may be reported on a claims-made policy.

What is a claims-made insurance policy?

A claims-made insurance policy covers claims that occur and are made during the life of the insurance policy unless you buy tail coverage. Let’s dive deeper into each one to see which is the best fit for you and your business. What is an Occurrence Policy?

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