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Professional Liability Insurance Occurrence Application 159 East County Line Rd., Hatboro, PA 190401218 Tel: 18882883534 Fax: 18479530134 FS875D 1. APPLICANT INFORMATION: a) Firm Name: b) Owner (s):.

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The per-occurrence limit is the most your insurance company will pay for a single covered loss under the terms of your policy.

A per-occurrence insurance policy offers guaranteed coverage for incidents that happen while your policy was active. If you cancel your policy and file a claim that occurred during the policy period but after your coverage ended, the insurance company would still cover your claim.

The occurrence form covers losses that take place during a specific coverage period, regardless of when an incident is reported. For example, an electrician purchases a general liability policy on an occurrence basis.

Key Takeaways: An occurrence policy has lifetime coverage for the incidents that occur during a policy period, regardless of when the claim is reported. A claims-made policy only covers incidents that happen and are reported within the policy's timeframe, unless a “tail” is purchased.

An occurrence-based policy covers losses that happen during the time you have the policy, regardless of when you file a claim. It is designed to protect you against long-tail events – incidents that could cause injury or damage years after they occur.

Per occurrence limit is the maximum amount the insurer will pay for all claims resulting from a single occurrence, no matter how many people are injured, how much property is damaged, or how many different claimants may make claims.

Is Occurrence or Claims-Made Better? There's not an advantage to having claims-made or occurrence coverage. You'll likely pay more for insurance written on an occurrence form. Be aware that insurers may write coverages on a certain type of policy.

Occurrence policies accommodate “long-tail” events – situations that don't produce lawsuits or claims right away. With a claims-made policy, your coverage only kicks in when you file a claim during the policy period.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232