1. Occurrence Form vs Claims Made

2. Occurrence Form
Aaron slips and falls in a store September 12, A year goes by and a claim is filed. The policyholder switched insurance companies at the beginning of the year. Due to the occurrence-made policy the following insurer is most likely going to be responsible for the claim:
The grocer's current insurer
Aaron's insurer since it has been over a year
the previous insurer
the claim was in tail coverage because it was not reported

3. Occurrence Form Traditional Form of liability
Aaron slips and falls in a store September 12, A year goes by and a claim is filed. The policyholder switched insurance companies at the beginning of the year. Due to the occurrence-made policy the following insurer is most likely NOT going to be responsible for the claim:
The grocer's current insurer
Aaron's insurer since it has been over a year
the previous insurer
the claim was in tail coverage because it was not reported

4. Claims Made Lower-cost way of providing liability coverage
Aaron slips and falls in a store September 12, A year goes by and a claim is filed. The policyholder switched insurance companies at the beginning of the year. Due to the claims-made policy the following insurer is least likely to be responsible for the claims:
The grocer's current insurer
Aaron's insurer since it has been over a year
the previous insurer
the claim was in tail coverage because it was not reported

5. Claims Made Lower-cost way of providing liability coverage
Aaron contacts his attorney on June 1, 2016 to file a slip and fall claim against a store in Gainesville, VA. For a fall s in a store September 12, A year goes by and a claim is filed against the store that has a claims-made policy. Which of the following is True?
The business previous insurer will pay for the damages.
The current policy must switch to an occurrence-made policy
The adjuster has to contact Aaron on the new retro date
The adjuster must contact Aaron within 15 business days

6. Errors and Omissions
In July of 2012 we get really bad insurance advice
Let’s say we’re developing a plan for some business, but we don’t know about a loss they suffered. This advice was given July 2012 when we had travelers. On July 2013 Gordon finds a lawyer and files a claim. Our insurer is now Peerless.
Which two are true?
Our current insurer under the claims-made policy
Our past insurer under the claims made policy
Our past insurer under the occurrence-made policy
Our current insurer under the occurrence-made policy

7. RETRO DATE – Claims Made
A dentist decides to retire and closed his practice on July 13, 2015, but we don’t know about a loss they suffered. The dentist had Acme insurance company from Jan. 1, 2010 – December 31, His 5 year tail coverage will cover which of the following?
A claim reported on January 1, 2015
A claim reported on July 14, 2014
A claim reported on Jan. 1, 2005
A loss suffered December 31, 2015

8. RETRO DATE – Claims Made
A dentist decides to retire and closed his practice on July 13, 2015, but we don’t know about a loss they suffered. The dentist had Acme insurance company from Jan. 1, 2010 – December 31, His 5 year tail coverage will cover which of the following?
A claim reported between January 1, 2015 – December 31, 2015
A occurrence reported between January 1, 2014 – December 31, 2014
A claim reported between January 1, 2005 – December 31, 2005
A loss suffered December 31, 2015

9. RETRO DATE – Claims Made
A Retro date makes which of the following false for a policy that expired Jan 1, 2016
Occurrences reported on July 31, 2017 for an occurrence on January 1, 2015 will not be covered
Any Claims reported between January 1,2015 – December 31, will be covered
Occurrences between January 1, 2010 – December 31, 2015 will be covered
An Occurrence on December 31st 2016 that triggered a peril will not be covered