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Basic Difference

The OCCURRENCE policy form will respond to claims presented after the expiration date. The claim must have occurred during the policy period, regardless of when that claim is presented.

The CLAIMS MADE policy must be active when the claim is presented. Claim must have occurred after the “Retro-Date” and before the expiration date of the policy.

Explanation of Above Examples

#1. Since claims can be reported against an OCCURRENCE policy after the policy has expired, a gap in coverage is never created when changing from an OCCURRENCE form to either an OCCURRENCE or CLAIMS MADE policy form.

#2. Same as #1

#3. When changing from a CLAIMS MADE policy form to a CLAIMS MADE policy form, you have a choice: a) The new CLAIMS MADE policy form’s RETRO-DATE must be the same as the RETRO DATE on the expiring policy, or b) an “Extended Reporting Period” (Tail) must be purchased on the expiring policy.

#4 . When changing from a CLAIMS MADE policy form to an OCCURRENCE policy form you must: a) Purchase an “Extended Reporting Period” endorsement (Tail), or b) Purchase “PRIOR ACTS” coverage on your new OCCURRENCE policy form.


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