Occurrence

Academic has two types of policies available to members: Claims-made and Occurrence. Occurrence coverage protects the policyholder against claims of medical malpractice that occurred while the policy was in effect. This type of policy essentially has the tail policy built into the pricing, so purchasing a separate tail insurance policy is unnecessary. If the policy is canceled for any reason, the insurance company will defend any claim brought against the policy holder during the period they were covered prior to cancellation under the occurrence policy. 

Policy Limits

• Policy limits are the maximum amount an insurer will pay out for a claim, as stated in the policy
• New York State Limits: $1.3M per occurrence/$3.9M aggregate
• Excess New York Limits: up to $2.3M per occurrence/$6.9M aggregate