- an incident resulting in injury or damage to person or property which has or will become a loss/claim; “an unplanned event definite as to time and place that causes bodily injury or property damage.”
- a claim may be a demand by an individual or corporation to recover, under a policy or insurance, for loss which may come within that policy.
- the person making a claim.
- a term describing an insurance policy that covers claims first made (reported or filed) during the year the policy is in force for any incidents that occur that year or during any previous period during which the insured was covered under a “claims-made” contract.
- a situation, practice or condition which might lead to a loss; an activity or resource (assets, people).
- a condition within an exposure that may lead to an incident; “a peril about to happen.”
- an event that disrupts normal activities and may become a loss or claim; “a near miss.”
- an accident with the limitation of time removed.
- a “cause” of loss; an event which may be the cause of a loss.
- acquisition of funds from within the organization to finance retained risk.
- another term for an extended reporting period under a claims-made liability policy.