What is Claims-Made vs Per Occurrence coverage?

Within insurance, there are 2 different ways that coverage can be written; either occurrence-based or claims-made: 

·      Occurrence-Based policies provide coverage for claims that occur during the policy period, regardless of when the claim is filed. You do not need continual insurance as long as the incident occurs within the policy period.  

·      Claims-Made policies provide coverage as long as the insured continues to pay premiums for the initial policy and any subsequent renewals. Each year that the policy is continuously renewed, the "coverage period" is extended. Claims made to the insurance company after the coverage period ends will not be covered, unless a tail coverage is purchased. Tail coverage is offered to all EnergyPro members that don't renew their coverage in the program. 

The EnergyPro policy has a few different lines of coverage and both types of policies are included. The General Liability policy is written on an occurrence-based form whereas the Professional Liability is written on a claims-made form.