Claims-Made policies provide coverage only when a claim is filed against the insured during the active term of the policy, regardless of when the incident that led to the claim occurred. For instance, if a policy renews and a claim is made after its expiration, the expired policy will not provide coverage; only the current policy will respond to the claim.
In contrast, Occurrence policies cover claims arising from damage or injury that occurred during the policy period, regardless of when the claim is submitted. For example, if a policy renews and a claim is made later, it can still trigger coverage under the expired policy if the damage or injury occurred during that coverage period.