Claims-made vs. Occurrence Coverage: There are substantial differences between the 2 most common forms of medical malpractice insurance. Claims-made policies are the most common type available to physicians today.
Occurrence policies cover claims on the basis of when they are incurred regardless of when they are reported. For example, an occurrence policy written for 1997 covers only claims arising out of incidents which occur in 1997 irrespective of when the claim is actually made. Claims-made policies cover claims on the basis of when they are reported. For example, a claim that is incurred in 1997 but is not reported until 1999 will be covered under the claims-made policy issued for 1999 (assuming the policy is continuously in force with a prior acts date of 1997 or previous).