Which type of liability policy provides coverage based on when the claim is reported?

The correct answer is the Claims Made Form. This type of liability policy is structured to provide coverage for claims that are reported during the policy period, regardless of when the incident that triggered the claim occurred. This means it is essential for the insured to understand the timing of their claim reporting in relation to the terms of their policy.

For instance, if an incident occurs in one policy period but the claim is not filed until a subsequent period, it will typically not be covered unless the policy specifically states otherwise. The Claims Made Form is particularly important in professional liability and errors and omissions insurance, where the timing of the claim can significantly affect coverage.

In contrast, other types such as Occurrence Form provide coverage based on when the actual incident occurred, regardless of when the claim is reported. This means an occurrence that happened during the policy period will be covered, even if the claim is made years later. General Liability Form generally refers to a category rather than a specific form, thus lacking the defined structure of the Claims Made Form. Claims Filed Form is not a standard terminology used widely in insurance contexts and does not accurately describe the conventional liability policies.