Occurrence Policy

An insurance policy that indemnifies the insured for claims against it where the events or actions by the insured, that give rise to the claim occurred during the policy period. Occurrence policies, which are also some times known as “claims arising” policies, can be used many years after the term of the insurance policy has expired. Moreover, significant U.S. case law has held that the right-to-indemnity arising under such policies are not limited or terminated by a non-assignment provision, even where the insured’s liability is for activities that were legal and not-actionable during the period that the policy was in force, such as asbestos or environmental liability. See Claims-Made Policy.

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