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Occurrence vs. Claims-Made...Which is the Best Value?

An agent advised that his state had enacted legislation requiring licensed contractors to carry liability insurance. CGL premiums for small contractors from his markets range from about $4,000 to $6,000. However, some agents are aggressively marketing claims-made CGL policies for only $1,500. The question is, "Which policy—occurrence or claims-made—is the better value?"

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Alexandria VA 22314
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fax: 703.683.7556
email: info@iiaba.net

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