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GLOSSARY

 GLOSSARY TERMS by Alpha
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OASDI
Occupational hazard
Occupational Safety and Health Act (OSHA)
Occurrence
Off premises cover
Offer and Acceptance
Open perils
Original age
Other insurance
Other insured rider
Ownership
Ownership of expirations

Occurrence

In general, an event that triggers coverage under any policy. Specifically, an event that triggers coverage under an occurrence-based liability policy. Such a policy covers injury or damage that occurs during the policy period even if claim is brought months or even years after the policy has expired - see Claims-made for the alternate arrangement.

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