Section 10.23 Claims-Made Form

LibraryInsurance Practice 2015

As an alternative to the occurrence basis form, the commercial general liability (CGL) policy also offers a claims-made form. The claims-made CGL policy form has seen only limited use since its introduction. Claims-made professional liability policies have been in use for years and are quite common. The claims-made form differs from the occurrence form only with respect to their coverage “triggers.” Under the claims-made form, both Coverage A and Coverage B are subject to claims-made triggers:

COVERAGE A BODILY INJURY AND PROPERTY DAMAGE LIABILITY

1. Insuring Agreement

. . .

b. This insurance applies to “bodily injury” and “property damage” only if:

(1) The “bodily injury” or “property damage” is caused by an “occurrence” that takes place in the “coverage territory”;

(2) The “bodily injury” or “property damage” did not occur before the Retroactive Date, if any, shown in the Declarations or after the end of the policy period; and

(3) A claim for damages because of the “bodily injury” or “property damage” is first made against any insured, in accordance with Paragraph c. below, during the policy period or any Extended Reporting Period we provide under Section V—Extended Reporting Periods.

c. A claim by a person or organization seeking damages will be deemed to have been made at the earlier of the following times:

(1) When notice of such claim is received and recorded by any insured or by us, whichever comes first; or

(2) When we make settlement in accordance with Paragraph 1.a. above.

All claims for damages because of “bodily injury” to the same person, including damages claimed by any person or organization for care, loss of services, or death resulting at any time from the “bodily injury”, will be deemed to have been made at the time the first of those claims is made against any insured.

. . .

COVERAGE B PERSONAL AND ADVERTISING INJURY LIABILITY

1. Insuring Agreement

. . .

b. This insurance applies to ?personal and advertising injury? caused by an offense arising out of your business, but only if:

(1) The offense was committed in the “coverage territory”;

(2) The offense was not committed before the Retroactive Date, if any, shown in the Declarations or after the end of the policy period; and

(3) A claim for damages because of the “personal and advertising injury” is first made against any insured, in accordance with Paragraph c. below, during the policy period or any Extended Reporting Period we provide under Section V—Extended Reporting Periods.

c...

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