Insurance 101 – Chapter 9 – Volume 79 – What is a “Claim” – 2?

What is a “Claim” – 2?

A key purpose of the claims made policy is to prevent limits or policies from being stacked, as well as to eliminate uncertainty regarding the  policy that will apply to a given matter. This is accomplished by  concentrating on the time that a claim is received instead of struggling with the problem of determining the date of “occurrence.” The date of “occurrence” is usually set at the date when the injured party was actually injured. Some courts have modified this simple rule to provide coverage where none was intended. The claims made form avoids such “social engineering.”

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

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The author and publisher disclaim any liability, loss, or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this blog. The information provided is not a substitute for the advice of a competent insurance, legal, or other professional. The Information provided at this site should not be relied on as legal advice. Legal advice cannot be given without full consideration of all relevant information relating to an individual situation.

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