Claims Occurrence Form
Definition - What does Claims Occurrence Form mean?
A claims occurrence form is a type of insurance in which any covered losses during the policy period can be claimed and reimbursed after the policy expires. Claims occurrence forms are an alternative to claims made forms, which only allows claims to be reimbursed if both the loss and the filing of the claim took place during the policy period.
Insuranceopedia explains Claims Occurrence Form
Many people view claims occurrence forms as the better option between the two different types of insurance because it allows the policyholder more freedom in terms of when they can file the claim. With a claims made form, the policyholder could get stuck shouldering the full burden of the loss if he or she files the claim too late. So, people who have claims occurrence forms do not have to worry as much about timing when they file their claims.