What type of liability policy covers all claims from incidents that occurred during the policy period, irrespective of policy status?

An occurrence policy is designed to provide coverage for all claims arising from incidents that occur during the policy period, regardless of when those claims are actually reported or when legal action is taken against the insured. This means that even if the policy is no longer active at the time a claim is made, as long as the incident that led to the claim happened while the policy was in force, the insured would still be covered. This type of policy allows for peace of mind because it addresses any potential claims that may arise from events that are not immediately reported.

Claims-made policies, in contrast, only cover incidents reported during the active policy period. Therefore, if a claim arises from an incident that happened while the policy was in effect but is reported after the policy has lapsed or been canceled, there would not be coverage.

A reporting policy generally requires the insured to report incidents or claims to the insurer within a certain timeframe in order for coverage to apply. This adds an additional requirement that does not exist in occurrence policies.

Retroactive policies may provide coverage for incidents that occurred before the policy's start date but still only cover claims reported within the policy period, making them distinct from occurrence policies.

Thus, the key characteristic of an occurrence policy is its broad coverage for incidents