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Apr 12, 2019 · Insurance companies frequently reserve the right to deny – or deny outright – coverage of claims made during the policy period on the basis of provisions in their policies that pertain in one way or another to events predating the policy period. Understanding some of the more common ways insurance companies try to do this can forewarn and ...
Apr 12, 2019 · Generally speaking, under an occurrence policy, coverage is triggered if the underlying accident (i.e., the “occurrence”) for which a party seeks to hold the policyholder liable takes place...
People also ask
What is occurrence in insurance?
What does “per calendar year” mean in health insurance?
What is the difference between a calendar year and a policy year?
Why is occurrence important in insurance?
Feb 21, 2024 · In insurance, the term “occurrence” refers to an event that causes damage, loss, or injury during the policy period. It is an essential concept used to determine the extent of coverage provided by an insurance policy.
Does circa mean approximately? Circa does indeed mean approximately in the context of dating or indicating the time period of something. It is often used before a specific date to indicate that the actual date may be slightly different, but is close to the one stated.
Sep 15, 2021 · Factor #1: Claims-Made vs. Occurrence-Based Coverage. Before we can dive into retroactive dates and continuity dates, it’s important to understand the difference between claims-made and occurrence-based insurance policies. Imagine an incident occurs in 2017. In 2018, the incident becomes known, and a claim is filed.
What does ‘cancellation’ mean in an Event Cancellation Insurance (ECI) policy? The definition varies from one policy to the next, but generally cancellation means that the insured is unable to host a meeting.
Nov 17, 2023 · The choice between plan year and calendar year can affect financial planning, both for individuals and employers. What Does Per Calendar Year Mean? Explanation of the Term “Per calendar year” in the context of health insurance refers to the benefits or limits set for the duration of a calendar year.
