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Insurance Definition: CLAIMS-MADE POLICY

By Compuquotes Team on March 27th, 2008

CLAIMS-MADE POLICY:

Definition:

  • A form of insurance that pays claims presented to the insurer during the term of the policy or within a specific term after its expiration. It limits liability insurers' exposure to unknown future liabilities. (See Occurrence policy)

Information provided by Insurance Information Institute

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