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Question

Insurance that pays claims arising out of incidents that occur during the policy term, even if they are filed many years later is known as?

A Nursing Home Insurance Correct Answer Incorrect Answer
B Kidnap/Ransom Insurance Correct Answer Incorrect Answer
C Inland Marine Insurance Correct Answer Incorrect Answer
D Occurrence Policy Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

An Occurrence policy protects you from any covered incident that “occurs” during the policy period, regardless of when a claim is filed. An occurrence policy will respond to claims that come in – even after the policy has been canceled – so long as the incident occurred during the period in which coverage was in force.

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