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MEDPLI was quoted in an article about claims-made vs. occurrence malpractice insurance in White Coat Investor, “the most widely-read, physician-specific personal finance and investing website in the world”.

The article, which features a comparison of claims-made vs. occurrence malpractice insurance, reviews what each option means, the malpractice limits associated with each choice, and when each policy pays on a claim.

When asking the question, “Is an occurrence or claims-made policy more affordable, the author explains that “factors such as location, the types of procedures provided, the specialty, and the prior claims history factor into malpractice insurance costs, regardless of the policy type” but also asserts that claims-made policies are usually less expensive than occurrence malpractice policies at the beginning, because a claims-made policy rate usually increases over time.

The author recommends that “since claims-made policies could potentially leave physicians without enough coverage at a given time, it’s recommended they purchase tail coverage, which is an additional cost—approximately 200% of the expiring claims-made premium, according to MEDPLI.”

In the end, the author recommends that each option comes down to fit and what your needs are, and urges doctors to work with an independent broker to help ensure you’re getting the best price possible.

If you’re in the market for claims-made or occurrence malpractice insurance, contact the brokers at MEDPLI. We help doctors figure out their specific needs and guide them on choosing the policy that gives them the right coverage for the best deal.

To speak to a broker right away, contact us.

To access the original article, click here.