An "Occurrence" Based Policy Is Also Known as a "Claims

question 51

True/False

An "occurrence" based policy is also known as a "claims made" policy in professional liability insurance.

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Definitions:

Income Quintile

A statistical measure dividing the population into five equal groups according to income level, to analyze the distribution of income or wealth.

Income Mobility

Refers to the ability for an individual or family to move up or down the economic ladder within a society over time.

Income Quintile

A method of dividing a population into five equal groups based on their income levels.

Lowest Quintile

The segment of a population that falls within the bottom 20% in terms of income distribution or other statistical measurement.