Final answer:
Under a CGL policy, the word 'occurrence' refers to A. An accident, including a continuous or repeated exposure to the same harmful conditions. This broad definition includes both sudden accidents and prolonged exposures that could lead to harm.
Step-by-step explanation:
Under a Commercial General Liability (CGL) policy, the word ’occurrence’ refers to an event that can result in a claim of bodily injury or property damage. The term is broadly defined as A. An accident, including a continuous or repeated exposure to the same harmful conditions. This means that the word 'occurrence' encompasses not just sudden accidents but also the exposure to conditions over a period that can cause harm. For instance, if a leaking pipe over time causes mold growth that results in respiratory issues for the occupants of a building, this prolonged exposure may constitute an 'occurrence' under a CGL policy. It's also important to understand that economic risks that are beyond an individual's control, such as natural disasters, wartime events, or massive unemployment, can lead to situations where individuals rely on insurance policies to ensure their and their families' needs are met.