What's the Difference Between Occurrence & Claims-Made Insurance?

"Have you ever wondered how your vendors’ Commercial General Liability coverage will cover your company in the event of a claim? The Commercial Liability policy does not always respond in the same way. On a COI in the CGL section you will see 2 boxes: Claims made and OCCUR (short for occurrence).

Is a type of CGL policy that responds to claim when the claim is filed.

This means that whatever policy limits are in place at the time of the filling will be what is available to respond to the claim, regardless of what the limits were when the incident occurred."