01 / The meaning
What it means.
The relevant date is determined by the wording. It may be the date damage occurred rather than the date work was performed, the defect was created or the claimant wrote a demand. This differs from a claims-made policy, which focuses on when a claim is first made and may impose notification requirements within a particular period.
Occurrence-based cover still has insured-activity definitions, exclusions, limits and notification conditions. It is not unlimited historical protection. Retain expired policies, schedules and endorsements so that a later claim can be checked against the correct period. Gradual damage, repeated exposure or several related incidents can require careful analysis of when the relevant occurrence happened and how losses are grouped.
02 / Put it in context
A practical example.
Hypothetical example: A customer alleges injury from an accident at a venue during last year’s policy period, but sends the demand this year. The business locates the earlier policy and reports the matter. The dates may make that policy relevant, without establishing that the allegation is insured.
This example illustrates the term. It does not predict a claim outcome.
03 / Read the detail
What to check.
- Identify what must occur during the period: injury, damage or another event.
- Check how ongoing or related events are treated.
- Retain historical wordings and follow the applicable notification process.
04 / Start a useful conversation
A question for your broker.
Which event and date determine the insurance period relevant to this allegation?
05 / Connect the terms
Keep the meaning in context.
06 / Apply it to your business
Related insurance guides.
Further reading
Read the source guidance alongside the relevant policy wording.
General information only. This does not take into account your objectives, financial situation or needs. Before acting, consider whether the information is appropriate for you. Cover is subject to insurer acceptance and the policy terms, conditions, limits and exclusions. Read the Financial Services Guide and the relevant PDS (where applicable) and/or policy wording before deciding.
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