People always ask us the difference between an Occurrence Policy and a Claims Made Policy. Watch the below video which will make it very simple for you. Of course, the best thing to do is contact one of our risk management experts at 866-802-4476 and make sure you get the perfect policy for you at the perfect price.
Claims-made versus Occurrence malpractice. If you remember one thing about malpractice insurance, remember this, it’s all about timing, specifically when the event happened and when the claim is filed.
An Occurrence Policy covers you based on when the patient event happened, even if the claim shows up years later. A Claims-made Policy covers you only if the claim is made while your policy is active and the event happened after your retroactive date.
Quick example. You treat a patient in 2026, a claim is filed in 2028. Here’s the key catch. If you’re on a Claims-made Policy and you retire, change carriers or cancel, future claims might not be covered unless you buy Tail coverage, also called an extended reporting period. So when you’re choosing coverage, ask three simple questions.
1. is this Occurrence or Claims-made?
2. if it’s Claims-made, what’s my retroactive date?
3. If I leave, do I need Tail coverage, and what will it cost? Confused? Don’t be!
Our policy experts will walk you through everything you need to know.