Claims-made coverage: Covers when an incident happens and the actual claim is reported while your policy is in force.
Occurrence coverage: Covers incidents that happen during your policy period regardless of when the claims are reported.
Here's an example to help you differentiate the coverage:
Let's say Dr. Smith had a policy he purchased in 2004 and he treated a patient in 2005, but then terminated his policy in 2006. In 2007, the patient sues him for treatment that occurred in 2005.
If this were an occurrence policy, Dr. Smith would be covered because the situation that brought the claim "occurred" while he was insured.
If this were a claims-made policy, Dr. Smith would not be covered because the claim was made after he terminated coverage.
This is an important distinction and one you need to be aware of when you switch providers. Many Dentists purchase extended reporting "tail" coverage to make sure they're protected for any gaps in coverage.
Continue to learn more about the features that ProDentistSolutions can offer you!
- No membership fees.
- Consent to settle. Requires your consent before a claim or lawsuit is settled on your behalf.
- Loss of earnings. Pays up to $500 a day, maximum $5,000 a claim for loss of earnings due to suspension of practice.
- Defense costs. Your defense costs are paid—whether you win or lose.
- Expert dental defense and claims management. With decades of dental malpractice experience, the Dental Professional Liability program experts have the knowledge and experience to handle your claims.
- Free access to dental liability experts.
- Board examination coverage. Covers you for legal obligations from professional services during your dental training and your state/regional examination.
- Affordable group premiums.
- Extended reporting "tail" coverage.
- General liability coverage. Coverage for your office, dental products and completed operations. The Dental Professional Liability program also provides valuable protection for your office—including up to $10,000 in medical payments coverage for reasonable medical expenses causes by accidents on your premises.
- Non-owned and hired auto liability. Pays if your employees use their own cars for business and a claim is filed for an incident. Coverage includes bail bonds up to $250 and out-of-state coverage extensions.
- Employment practices liability. Protects you up to $5,000 on a claims-made basis if an employee brings a lawsuit against you for wrongful termination, sexual harassment and other violations. Higher limits are available.
- Medical waste legal reimbursement. Receive up to $50,000 on a claims-made basis if sued for improperly disposing medical waste.
- Property damage. Pays up to $500 on an occurrence basis.
- Personal injury and advertising injury liability. Protects you against claims involving false arrest, detention, imprisonment, libel, slander, violation of copyright, among other claims.
- First aid expense coverage. Pays up to $5,000 for expenses you incur to provide first aid to a patient after your services caused the injury.