Question

All of the following are true about the Occurrence and Claims Made Commercial General Liability Forms, EXCEPT:

a. They both cover an accident that happens during the policy period if a claim is received and recorded during the policy period.
b. The occurrence form covers an accident that happens during the policy period regardless of when a claim is made and received.
c. The claims made form covers an accident that is reported and recorded during the policy period regardless of when the accident happened.
d. The major difference between the two forms is the "trigger coverage".

Answer 1

The Occurrence and Claims Made Commercial General Liability Forms are different types of insurance policies. The occurrence form covers accidents that happen during the policy period regardless of when a claim is made, while the claims made form covers accidents reported during the policy period regardless of when they occurred. The major difference between the two forms is the trigger coverage.

Step-by-step explanation:

The Occurrence and Claims Made Commercial General Liability Forms are both types of insurance policies that cover accidents or claims that occur during the policy period. However, there are differences between the two forms. The occurrence form covers an accident that happens during the policy period regardless of when a claim is made and received, while the claims made form covers an accident that is reported and recorded during the policy period regardless of when the accident happened. The major difference between the two forms is the "trigger coverage," which refers to the event that triggers coverage under the policy.