What does Occurrence mean? Read on to discover the definition & meaning of the term Occurrence - to help you better understand the language used in insurance policies.
Event that results in a loss to a third party due to bodily injury, or property damage or destruction. Most liability insurance policies stipulate that all losses resulting from the same general causes are considered as resulting from one occurrence, and are limited to the number of occurrences allowed in the insurance policy. Also, such losses are distinguished from accidents in that the loss does not have to be sudden and fortuitous, or expected or intended, and can result from continual or repeated exposure to the possibility of harm.
We hope the you have a better understanding of the meaning of Occurrence.