Explanation of Occurrence vs Claims-made Coverage
Insurers are increasingly offering or requiring an option of claims-made coverage. The following document discusses occurrence versus claims-made coverage in some detail.
Claims-made policies cover claims that both; involve incidents that occurred after the policy retroactive date (usually the policy inception date); and are made and reported during the active policy period.
Other considerations regarding claims-made coverage:
- First-year premiums are low but step up over a three to five year period
- "Tail" coverage is required for physicians who terminate claims-made policies to cover claims reported after the termination of the policy on the terminating policy.
Publication: Explanation of Occurrence vs Claims-made Coverage
State Society members can order a printed copy of Explanation of Occurrence vs Claims-made Coverage or view the PDF below. Members can also read this publication in HTML.
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Last Updated: 1/17/2008