• Skip to main content
  • Skip to primary sidebar
  • Skip to footer

ABOUT US RESOURCES TESTIMONIALS BLOG CONTACT US

  • Home
  • About Us
  • Find Your State
  • Find Your Specialty
  • Choose a Facility
  • Resources
  • Testimonials
  • Blog
  • Contact Us
  • Request A Quote

Allied Healthcare Providers: Should You Get an Occurrence or Claims Made Policy?

June 11, 2020

Medical Malpractice Insurance policies can be confusing, and most allied healthcare providers are unsure whether to get an Occurrence or a Claims Made policy.  The answer to this question really depends on your employer, your employment status, and your future career plans.  First, a definition of each type of policy may be helpful:

Claims-made Coverage

A form of liability coverage that is triggered if 1) an event takes place and is reported after the retroactive date but prior to the termination of coverage, and 2) the claim is made against the Insured while the policy is in effect.  A “Tail” or Extended Reporting Endorsement (ERP) must be purchased when the policy is terminated for prior acts to be covered.

Occurrence Coverage

Provides coverage based on when the accident or injury actually happens; thus, claims arising from injuries that occurred within a policy’s effective dates are covered by that policy, regardless of when the claim is actually made against the Insured or presented to the insurance company.  A “Tail” (ERP) is not needed with an Occurrence Policy.

Why would employer, employment status, or career plans dictate which coverage an allied healthcare provider should choose?

Sometimes an employer makes the decision to add an allied healthcare provider to their own medical malpractice insurance.  In this case you do not have a choice, and most physician policies are Claims Made.  Typically, in this case, you would be added as an Additional Insured and covered as long as you are employed.  If you leave the employer, you cannot take your coverage with you because it is not your policy.

Your employment status may influence the decision to get Occurrence or Claims Made coverage.  If you are an independent contractor (1099), and you want the flexibility to work other places or think you might move on in a couple of years, you really need your own Claims Made policy.  These policies are portable and cover your prior acts going back to your initial start date or Retroactive Date.  No matter where you are employed, if a claim is filed against you, the Claims Made policy will provide coverage as long as it was filed after the Retroactive Date and the policy is active.

However, if your future career plans include going to work full time in a hospital setting, you should choose an Occurrence Policy.  A hospital typically will not purchase an ERP (Tail) for new allied healthcare provider they hire.  They will usually require the new hire to pay for their own ERP and just add them to their self-insured trust or medical malpractice insurance plan.  An Occurrence Policy does not require a “Tail” and will save you a great deal of money when you go to work at the hospital.

The network of medical malpractice insurance experts at eQuoteMD can help you further understand the importance of choosing the right policy for your situation.  We recently saved a Family Nurse Practitioner thousands of dollars by providing a Claims Made policy with Retroactive coverage for her prior acts, and she avoided having to purchase an ERP.  Please give us a call or apply online for a free quote.

eQuoteMD

855-823-5283

equotemd.com

8:30-5:00 M-Th, 8:30-4:00 F, CST

Filed Under: General Tagged With: allied, allied healthcare, claims made, occurrence, policies, policy, tail, tail coverage

Primary Sidebar

Calendar

June 2020
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
2930  
« Mar   Apr »

Categories

  • General
  • medical malpractice insurance
  • Uncategorized

Tags

bill California claims made compliance coverage damage caps data defensive medicine electronic health records equotemd hipaa HITECH IT judicial lawsuit legal legislation liability malpractice malpractice insurance medical malpractice medical malpractice insurance medical malpractice lawsuit medical professional liability insurance news non-economic damages occurrence pain and suffering policies policy premium proposition quote research resources risk management study survey tail tail coverage technology telemedicine tort tort reform vote

Footer

eQuoteMD

BLOG

Doctor with blackboard that says medical malpractice insurance

As a dedicated, caring, and busy healthcare professional, the last thing you need is a medical READ MORE

Medical malpractice. Medical suit, stethoscope and papers

“Beware of little expenses.  A small leak will sink a great ship.”  Wise words from the man that READ MORE

Medical Malpractice Insurance policies can be confusing, and most allied healthcare providers are READ MORE

FIND YOUR STATE FIND YOUR SPECIALTY CHOOSE A FACILITY

ABOUT US RESOURCES TESTIMONIALS BLOG CONTACT US

HOME ADA DISCLAIMER PRIVACY POLICY SITEMAP

Copyright © 2022 · eQuoteMD · All Rights Reserved

iHealthspot Medical Website Design and Medical Marketing by iHealthSpot.com

eQuoteMD provides medical malpractice insurance services in all states for all specialties.