What type of coverage applies to all incidents occurring within the insured period regardless of when they were identified?

The correct answer, occurrence basis, reflects a type of insurance coverage that provides protection for claims arising from incidents that occur during the policy period, regardless of when the claims are reported. This means that as long as the event leading to the claim happens while the policy is active, the insurer will cover it even if the claim is made years later.

This type of coverage is particularly advantageous for policyholders because it allows for long-term security. For example, if an event occurs in the last year of coverage but is not discovered or reported until several years later, the policyholder is still protected under the occurrence basis coverage because the incident took place during the insured period.

In contrast, claims-made basis coverage only provides protection for claims made while the policy is in effect. Therefore, if an incident occurs after the policy has been terminated or if the claim is reported after the policy has expired, there is no coverage, which highlights the limitations of this option. The other choices, such as indeterminate basis and retroactive basis, are not standard insurance terms and do not correctly describe recognized types of insurance coverage within this context.