Medical Professional Liability insurance-Claims Made, Occurrence

We all have various types of insurance policies that protect different aspects of our everyday lives, as well as our property. The average Doctor has type of policies that are quite important to his /her practice and the following is the discussion about medical professionals insurance. If  you want to know further information Mahwish Ahmed California about such medical insurance policies then you can visit it.

There are two types of medical professional’s liability insurance: claims made and occurrence policies. There are advantages and disadvantages to each of these types of policies.

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Claims made insurance policies are one year long policies that are renewed each year without interrupting the coverage. Any Claims made during Claims made insurance policies period will be covered, no matter when the incidence actually occurred, as long as the incident occurred after the original purchase of the Claims made insurance policies.

Premiums increase each year up to five years, when the reach the approximate cost of the occurrence policies. Once a claim made insurance policies is cancelled, no further claims are covered. However tail coverage’s can be purchased to cover any claims that occur for a certain amount of time after cancellation.

Occurrence medical professional’s liability insurance covers all claims that occur during the coverage period, regardless of when the claim is made. Because there is no way of knowing how many claims will eventually be made due to actions occurring any given year, the premiums for occurrence medical malpractice insurance  are not necessarily cheaper in the beginning like they are with claims made policies.

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