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.

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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


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