What is CLAIMS OCCURRENCE BASIS

Determination of whether a CLAIM is covered by an INSURANCE contract. If the contract is written on a claims occurrence basis and a claim arises from an event when the policy is in force, the INSURER must pay the INSURED up to the stated amount , regardless of when the claim is actually filed (i.e., filing may occur after the policy has expired). See also CLAIMS MADE BASIS , OCCURRENCE LIMIT .