Tony has a liability policy that covers his business. Sometime during the policy period a loss occurs, but Tony does NOT become aware of the loss until several years after his policy expires. Which of the following types of policies would cover the loss?

Tony has a liability policy that covers his business. Sometime during the policy period a loss occurs, but Tony does NOT become aware of the loss until several years after his policy expires. Which of the following types of policies would cover the loss?


a. Serial policy


b. Occurrence policy


c. Claims-made policy


d. The loss would not be covered under any type of policy



Answer: b. Occurrence policy

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