What is the difference between an 'occurrence' and a 'claims-made' CGL policy?

These are two fundamentally different ways of triggering CGL coverage. Occurrence: coverage is triggered by when the bodily injury or property damage actually occurred. A 2024 policy covers a 2024 injury even if the claim is filed in 2028. Provides 'long tail' coverage automatically. Claims-Made: coverage is triggered by when the claim is first made against the insured, regardless of when the injury occurred. Includes a 'retroactive date' (earliest date covered) and requires that both the injury and the claim fall within policy terms. Requires 'tail coverage' (extended reporting period) to protect against claims made after policy termination for incidents during the policy period. Most CGL policies are occurrence-based, which is generally preferred. Professional liability (E&O, malpractice) is often claims-made because of the long delay between alleged malpractice and litigation. Switching between policy types creates coverage gaps if not managed carefully.