Occurrence Basis Sample Clauses
An Occurrence Basis clause defines insurance coverage based on when an incident or event actually happens, rather than when a claim is made. Under this clause, the policy will cover claims arising from events that occur during the policy period, even if the claim is reported after the policy has expired. For example, if an accident happens while the policy is active but the resulting claim is filed years later, coverage would still apply. This clause ensures that insured parties are protected for incidents that take place within the coverage window, addressing the risk of delayed claims and providing long-term security for past events.
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Occurrence Basis. The Workers’ Compensation policy, the Commercial General Liability, and the Umbrella policy required by this Agreement must be provided on an occurrence rather than a claims-made basis. The Professional Liability insurance policy may be on an occurrence basis or claims-made basis. If a claims-made basis, the coverage must respond to all claims reported within three (3) years following the period for which coverage is required and which would have been covered had the coverage been on an occurrence basis.
Occurrence Basis. The Construction Manager's insurances shall be on an occurrence basis as opposed to a claims-made basis (other than Construction Manager’s Professional Liability Insurance). In other words, claims which occur during the policy period can be reported months or years later and still be paid, if they occur during the policy period. Claims-made policies cover only claims which occur and are made during the policy period. In the event occurrence-based insurance is not available, use of claims-made insurance may be considered acceptable in limited circumstances, subject to written approval by the CITY’s Risk Manager.
Occurrence Basis. The CONTRACTOR's insurances shall be on an occurrence basis as opposed to a claims-made basis. In other words, claims which occur during the policy period can be reported months or years later and still be paid, if they occur during the policy period. Claims-made policies cover only claims which occur and are made during the policy period. In the event occurrence based insurance is not available, use of claims-made insurance may be considered acceptable in limited circumstances, subject to written approval by the Risk Manager.
Occurrence Basis. The Workers’ Compensation policy, the Commercial General Liability, and the Umbrella policy required by this Agreement must be provided on an occurrence rather than a claims-made basis. The Professional Liability insurance policy may be on an occurrence basis or claims-made basis. In the event that the Professional Liability insurance required by this Agreement is written on a claims-made basis, CONSULTANT warrants that any retroactive date under the policy will precede the effective date of this Agreement and that either continuous coverage will be maintained or an extended discovery period will be exercised for a period of three (3) years beginning at the time work under this Agreement is completed.
Occurrence Basis. All such policies other than Professional Liability shall be written on an Occurrence (not Claims made) basis.
Occurrence Basis. All insurance coverage shall be on an occurrence basis and not a claims made basis.
Occurrence Basis. The Workers’ Compensation Policy and the Commercial General Liability required by this Agreement shall be provided on an occurrence rather than a claims-made basis.
Occurrence Basis. “Occurrence Basis” as used in this Lease is defined in Section 7.4.
Occurrence Basis. All policies of insurance procured under this Article IX or as set forth on Exhibit C attached hereto shall be written on an “occurrence” basis to the extent obtainable.
Occurrence Basis. The Design Professional shall ensure that its insurer or insurers write all insurance required hereunder, with the exception of the Professional Liability Insurance, on an “occurrence” basis. Claims-Made coverage must include: Contract; and
i. a retroactive date on or prior to the start of Services under this ii. “tail coverage/an extended reporting period” or coverage for a period of three (3) years subsequent to the later of completion of the Services or final payment.