What does Occurrence Basis mean? Read on to discover the definition & meaning of the term Occurrence Basis - to help you better understand the language used in insurance policies.
Occurrence basis is a sub-type of commercial liability insurance. An occurrence basis policy is one that covers the insured for liability related to events that occurred during the policy period, even if the claim itself is only filed after the policy period has expired.
We hope the you have a better understanding of the meaning of Occurrence Basis.