Understanding policy type is critical.

Occurrence Policy:
Covers incidents that happen during the policy period — regardless of when the claim is filed.

Claims-Made Policy:
Covers claims reported during the active policy period only.

Key risk:
If a claims-made policy is canceled without tail coverage, prior work may be uninsured.

Common mistakes:

• Not knowing policy type
• Cancelling without tail
• Assuming all policies function the same

Know your structure before a claim happens.

For a policy review, contact Prosperity North Advisors.