What is the difference between claims-made versus occurrence coverage?
TDIC writes the professional liability portion of the policy on a claims-made and reported basis, which is a superior form of coverage for professional liability losses. With a claims-made and reported policy, dentists are insured against claims that are made against them for incidents that occur after the retroactive date and are first reported to TDIC within the policy period or 60 days after. With dental professional liability, a claim may arise many years after the incident. For example, it may take several years for a patient to experience the symptoms of an earlier misdiagnosis for periodontal disease. Claims-made coverage ensures that the policyholder is adequately insured and carrying appropriate limits at the time at which the claim is made – not limits that were appropriate years earlier when the misdiagnosis occurred.
