Occupational Disease An illness contracted as a result of employment-related exposures and conditions. Coverage for these situations is provided through workers compensation.

Occupational Hazard Condition surrounding a work environment that increases the probability of death, illness, or disability to a worker. This type of hazard is considered when evaluating an application for insurance.

Occurrence Basis Coverage (in liability insurance) for harm suffered by others or their property due to events occurring while a policy is in force, regardless of when a claim is actually made.

Open Enrollment Period A period of time, often once or twice a year, during which individuals are permitted to enroll in group insurance plans.

Open Peril Coverage Insurance coverage for all risks other than those that the policy specifically excludes.

Ordinary Income Income from the normal activities of an individual or business that is not capital gains from the sale of assets.

Own Occupation A term for a disability policy that provides benefits when the insured is unable to perform the usual and customary duties of one's own occupation.