Occurrence vs. Claims-Made Policies

Claims-Made policies are just that, coverage is only triggered when a claim is made against the insured during the active term of a policy, regardless of when the act (that gave rise to the claim) took place. For example: if a policy renews and a claim is made after the fact, it will not trigger the expired policy, only the current policy when the claim was made.   

An Occurrence policy covers claims that arise out of damage or injury that took place during the policy period, regardless of when the claim is made. For example: if a policy renews and a claim is made after the fact, it can trigger the expired policy if the damage or injury took place during that period.