General malpractice question

[The kitchen sink]

Not sure where to post this to get the most experience answers but will try here

What is the main difference between claims made and occurence based insurance?

For example/ a locums company is offering claims based insurance with tail that covers up until the end of the year.

The statute of limitations for medical malpractice in my state is 3 years.

That means after 1 year, I will not be covered correct?

I asked them to cover my tail for 3 years. Is that reasonable?

Thank you

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[NotAProgDirector]

Occurrence = if the alleged malpractice occurred while the policy was in effect, it's covered. Doesn't matter when the case is filed.

Claims made = you are only covered if the policy is in effect when the claim is filed. Because claims can be filed after you stop working somewhere / the policy ends, you need tail coverage. Tail is usually a single cost for "forever", I haven't seen 1 year tail coverage. You want tail forever.

 

[Mad Jack]

Not sure where to post this to get the most experience answers but will try here

What is the main difference between claims made and occurence based insurance?

For example/ a locums company is offering claims based insurance with tail that covers up until the end of the year.

The statute of limitations for medical malpractice in my state is 3 years.

That means after 1 year, I will not be covered correct?

I asked them to cover my tail for 3 years. Is that reasonable?

Thank you

No way I would take malpractice with that short of a tail. The amount of time it even takes for most claims to be initiated makes it basically worthless. Real tail coverage is forever coverage. You could look into buying it on your own as a supplement if the company is paying really well, but make sure to cover your tail one way or another

 

[The kitchen sink]

No way I would take malpractice with that short of a tail. The amount of time it even takes for most claims to be initiated makes it basically worthless. Real tail coverage is forever coverage. You could look into buying it on your own as a supplement if the company is paying really well, but make sure to cover your tail one way or another

They said they would cover my tail indefinitely. So we were able to move forward

 

[Mad Jack]

They said they would cover my tail indefinitely. So we were able to move forward

Nice! Way to negotiate for yourself