If you choose not to renew a policy as of June 30th, and a claim is made against you on July 30th for an incident that occurred on June 30th. According to your policy, you are covered. This is what type of policy?

Question

Quizplus · Accepted Answer

Occurrence-basis policies provide coverage for incidents that occur during the policy period, regardless of when the claim is made. Since the incident occurred on June 30th while the policy was active, it would be covered under an occurrence-basis policy.

If You Choose Not to Renew a Policy as of June