Physicians renewing a claims-made policy
are covered from the first year that they owned the policy.
With a claims-made policy
, it doesn't matter when the occurrence took place and it is clear which policy should respond to the claim.
If a claims-made policy
is discontinued, the doctor must obtain "tail" coverage to cover past actions.
The broad-form, claims-made policy
provides coverage for Directors & Officers, Errors & Omissions, Employment Practices Liability insurance lines, and can include provisions for General Liability risks.
In fact, a key to distinguishing a claims-made policy
from an occurrence policy is the very absence from an occurrence policy of a discovery or manifestation requirement.
Tail insurance, formally known as extended reporting period, continues your ability to defend claims after the claims-made policy
is out of force.
Prior acts are especially important on a claims-made policy
form since claims against appraisers usually don't occur until a period of 18 to 36 months after the appraisal was completed.
Extended reporting period insurance provides a specific time flame after a claims-made policy
has expired, during which a claim made against the insured will be treated as if the claim was made and reported to the insurer before expiration.
The problem of a claims-made policy
develops if the policy is cancelled.
Changes in insurance programs, including providers purchasing lower limits of liability and using claims-made policy
forms, are also contributing to the improvement of insurance availability and affordability.
Coverage is provided on a claims-made policy
form with retroactive coverage available.
You are protected under a claims-made policy
form, which is standard for the industry.