MLchartDataset catalogue

Claims-paid policy

Term · Insurance and risk management · MLC-T-INS-000771

A type of insurance policy, typically found in certain professional liability or medical malpractice coverages, where the insurer's obligation is triggered when a claim is actually paid out during the policy period. This differs from claims-made policies, which are triggered by the reporting of a claim. Claims-paid policies are less common than claims-made or occurrence forms.

Table 1. Record
IdentifierMLC-T-INS-000771
FieldInsurance and risk management
SubjectCommercial Liability
Record as JSON 
{
  "id": "MLC-T-INS-000771",
  "term": "Claims-paid policy",
  "field": "Insurance and risk management",
  "definition": "A type of insurance policy, typically found in certain professional liability or medical malpractice coverages, where the insurer's obligation is triggered when a claim is actually paid out during the policy period. This differs from claims-made policies, which are triggered by the reporting of a claim. Claims-paid policies are less common than claims-made or occurrence forms.",
  "subject": "Commercial Liability",
  "url": "https://mlchart.com/terminology/insurance/claims-paid-policy/"
}

Record 561 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.