What are Claims made and Occurrence Policies?

PMP is currently the only commercial medical indemnity insurance provider in the UK that offers customers the choice of a claims made or occurrence based indemnity policy.  

Occurrence

With an occurrence policy, cover stays in place for treatment provided during that specific policy period – it does not matter when the claim is made against you. This means that when you stop practising, you’re covered for any claims that arise from treatment provided during that specific policy period, subject to policy terms and conditions. Therefore, with an occurrence policy there is no need for run-off cover.

Occurrence example

An example timeline of how occurrence policies work
An example timeline of how occurrence policies work

In this example, the insured is covered by an occurrence policy. The treatment in question is carried out in 2022 and
a claim is reported to the insurer in 2023. The 2022  policy will respond to this.