What is CLAIMS MADE BASIS?

Insurance policy that only pays claims occurring during the period covered by the policy, and filed within that same period. Refer also to claims occurrence basis.

More On This Topic
  1. Nepotism, Cronyism, & Favoritism: Illegal Or Unethical?
  2. How To File An Out Of State Small Claims Suit
  3. If You File a Homeowner’s Insurance Claim, Will Your Rates Go Up?
  4. What Does It Mean To Contest Divorce?
  5. What Does a Homeowner’s Insurance Adjuster Do?
  6. How Can I Ensure That My Homeowner’s Insurance Policy Covers the Cost of a Slab Leak?
  7. Understanding Section 79 Plans With Permanent Life Insurance
  8. What Are the Different Types of Insurance?
  9. Filing a Small Claims Suit in Florida
  10. Can You Borrow Against a Term Life Insurance Policy?

Related Legal Terms
CLAIMS-OCCURRENCE BASIS, CLAIMS OCCURRENCE BASIS, CLAIMS MADE BASIS LIABILITY COVERAGE, NO CLAIMS BONUS, ASSOCIATE IN CLAIMS (AIC), POSITIVE BASIS, FAKE CLAIMS, CLAIMS RESERVE, COURT OF CLAIMS, PAID CLAIMS LOSS RATIO


Link to This Definition
Did you find this definition of CLAIMS MADE BASIS helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary