occurrence policy
- 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
- The company chose an occurrence policy to cover any potential incidents that might emerge after the policy period.
- The incident would be covered by the occurrence policy since it happened during the policy's active period, regardless of when it was discovered.
- 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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