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Liability Insurance, Occurrence vs Claims-made form

Liability Insurance, Occurrence vs Claims-made form

Liability Insurance, Occurrence vs Claims-made form

What’s the difference between a business liability policy written on an ‘occurrence’ form vs a ‘claims-made’ form?

An occurrence policy covers claims that occurred during the policy term or the policy year, regardless of the claim report date.  The occurrence date is very important because the insurer at risk at that time will be responsible for settlement.  With an occurrence policy, timing of the event or occurrence is important.  On the other hand, a claims-made policy covers claims that are made during the policy period.  As a result, the occurrence date is less important.   The vast majority of liability policies are written on an occurrence form.  Whereas, specialty coverage such as Professional Liability, Errors & Omissions and Malpractice Insurance are usually written on a claims-made form.   
 
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  • Rasoul K.

    What our clients say

    After talking to many different insurance companies, I spoke to Ensurco New Business Team. They returned my call quickly, provided the best rate and helped me set up a home insurance policy within an hour. Great service!

    Rasoul K.
  • Edward L.

    What our clients say

    I recently sent Ensurco an email requesting changes to my auto policy. I got a quick response. All the changes were completed in a timely manner and I received a detailed email with my billing schedule attached.

    Edward L.
  • Maria L.

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    Amazing staff to deal with. Very fast and efficient. My broker explained the difference between condo insurance and condo corporation insurance.  Thank you!

    Maria L.
  • Michelle B.

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    I was in a time crunch to get an auto application done on a Friday afternoon as I was picking up a new car. I called my customer service rep at Ensurco and she was able to get me a quote, provide an application and even send confirmation to my dealer with a liability slip. Keep up the good work.

    Michelle B.
  • Kelly S.

    What our clients say

    As a high risk driver, I was looking for a good rate as well as good coverage. I spoke to an Ensurco broker who helped me set up a 6 month policy so that I can eventually move to a regular market at less premium. You guys came through when no one else cared.  Thank you so much for your help. :)

    Kelly S.
  • Mark C.

    What our clients say

    When my son and I decided to travel to Calgary for a week, I called my broker at Ensurco who was able to provide me with great coverage at a really good price. I got my travel documents by email within 10 minutes. Exceptional timing!

    Mark C.
  • Don S.

    What our clients say

    Claims service! Most people dread talking to an insurance company or broker to report a claim. But I recently called my insurance broker at Ensurco about a possible water damage claim. He was able to guide me through the process.  The decision was mine as to whether or not I would proceed with the claim.  If so, he explained that he could connect me directly with the insurance company adjuster and resolve the issue. Great advice and great service.  Thanks Ensurco!

    Don S.