Occurrence policies cover claims arising from treatment during the policy period, regardless of when the claim is filed later. Claims-made policies only cover claims filed during an active policy period — if you let the policy lapse, you need “tail coverage” (extended reporting period) to protect against claims filed later. Specifically, occurrence policies cost more up-front but eliminate the tail-coverage expense when you retire or switch carriers.
Full breakdown with cost impact in our Alabama guide. Request a quote at bridgewayins.com/quotes.
