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claims-made policy |
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claims-made policy Etymology: L, clamere, to cry out; ME, maken + L, politicus, the state a professional liability insurance policy that covers the holder for the period in which a claim of malpractice is made. The alleged act of malpractice may have occurred at some previous time, but the policy insures the holder when the claim is made. Compare occurrence policy. claims-made policy Malpractice A type of medical malpractice or professional liability insurance policy for a physician or other health care professional in which coverage is provided for any claim that occurs only while the policy is in
force, regardless of when the alleged malpractice, negligence, or injury occurred. Cf Nose coverage, Occurrence policy, Tail coverage. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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This benefit is a twoedged sword for insureds under a claims-made policy because the costs erode coverage. Obviously, this is in sharp contrast to the traditional occurrence policy, as well as the claims-made policy form that bases its premium on including estimates for payments over the life of the policy. A recent decision by an English court throws light on what circumstances may require notification under a claims-made policy. |
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