What is a claims made policy?

A claims made policy is a type of insurance policy that is commonly used in California. This policy provides protection from claims that are made during the policy period. It is different from an occurrence policy, which covers claims from an occurrence that happened during the policy period, regardless of when the claim is made. A claims made policy may cover damages caused by the insured person or business, or damages caused as a result of their negligence. For example, if a business has a claims made policy, and a customer sues them for damages during the policy period, the policy will cover the claim. However, if the customer sues the business after the policy period has ended, the policy will not cover the claim. This type of policy is often used by professions such as lawyers, architects, and engineers. It offers financial protection in the event of a legal dispute or claim being made against them. In order to ensure that you are adequately protected from claims, it is important to make sure that you have a valid claims made policy in place. It is also important to make sure that your policy is up to date and includes all necessary coverage.

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What is a claims made policy?

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