What is an Occurrence Form in commercial general liability insurance?

An Occurrence Form in commercial general liability insurance is designed to provide coverage for bodily injury or property damage that occurs during the policy period, regardless of when the claim is filed. This means that if an event causing such injury or damage takes place while the policy is active, the insured is protected even if the claim is made after the policy has expired. This type of coverage is particularly important because it ensures that the insured is not held liable for events that occurred while they were properly insured, affording peace of mind in managing potential risks associated with business operations.

In contrast, other options suggest limitations or conditions that do not accurately reflect the comprehensive nature of the Occurrence Form. For example, the option that implies it only covers property damage claims fails to account for the bodily injury aspect of the coverage. The option regarding varying losses based on region does not apply to the standardized nature of commercial general liability products. Lastly, the notion that it requires immediate claim reporting is not a characteristic of the Occurrence Form; rather, it relates more closely to claims-made forms, where timely reporting is crucial for coverage.