occurrence policy

Definition of "occurrence policy"
  1. A type of insurance policy that offers coverage for an event that happens during the policy period, irrespective of when the event is discovered or a claim is laid
How to use "occurrence policy" in a sentence
  1. The company chose an occurrence policy to cover any potential incidents that might emerge after the policy period.
  2. The incident would be covered by the occurrence policy since it happened during the policy's active period, regardless of when it was discovered.
  3. An occurrence policy offers protection for events that occur during the policy period, even if they're reported or discovered later.

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