Per Occurrence
Per Occurrence is an important insurance term that describes how insurance policies pay out claims. It refers to the maximum amount an insurance company will pay for each separate incident or event, rather than a total limit for the whole year. Think of it like having multiple buckets of money available - each new incident gets its own fresh bucket, up to the specified amount. This is different from "aggregate limit," which is like having one big bucket for the whole year. Understanding this term is crucial in insurance jobs because it affects how claims are processed and policy limits are applied.
Examples in Resumes
Managed claims processing with Per Occurrence limits up to $1 million
Trained new adjusters on Per-Occurrence versus aggregate limit distinctions
Reviewed and updated Per Occurrence policy terms for commercial insurance accounts
Typical job title: "Insurance Underwriters"
Also try searching for:
Where to Find Insurance Underwriters
Professional Associations
Job Boards
Professional Networks
Example Interview Questions
Senior Level Questions
Q: How would you explain the difference between per occurrence and aggregate limits to a client?
Expected Answer: A senior professional should provide a clear, simple explanation using real-world examples, demonstrating how per occurrence limits reset for each new incident while aggregate limits apply to the total annual coverage.
Q: What factors do you consider when determining appropriate per occurrence limits?
Expected Answer: Should discuss business size, industry risk factors, claim history, regulatory requirements, and cost-benefit analysis for different limit levels.
Mid Level Questions
Q: How do per occurrence limits apply in multiple-claim scenarios?
Expected Answer: Should explain how different claims are evaluated as separate occurrences, using examples to show when incidents are considered single or multiple occurrences.
Q: What documentation is important when processing per occurrence claims?
Expected Answer: Should describe necessary incident reports, date verification, coverage confirmation, and how to track multiple claims against policy limits.
Junior Level Questions
Q: What is a per occurrence limit in insurance?
Expected Answer: Should be able to explain that it's the maximum amount paid for each separate incident, and how it differs from total policy limits.
Q: How do you verify if a claim falls within the per occurrence period?
Expected Answer: Should demonstrate understanding of basic claim dating, incident documentation, and policy period verification.
Experience Level Indicators
Junior (0-2 years)
- Basic policy term understanding
- Claims processing fundamentals
- Policy limit verification
- Basic documentation handling
Mid (2-5 years)
- Multiple claim handling
- Limit calculation and application
- Client communication skills
- Policy review and adjustment
Senior (5+ years)
- Complex claim resolution
- Risk assessment and management
- Team training and supervision
- Policy structure development
Red Flags to Watch For
- Inability to explain basic insurance terms
- Confusion between per occurrence and aggregate limits
- Poor attention to detail in policy documentation
- Lack of understanding about claim dating and verification
Related Terms
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