Types of Coverage

Occurrence Coverage

The Occurrence form covers professional liability claims related to treatment provided while the policy is in force. Coverage is provided regardless of when the claim is made. Some doctors prefer occurrence coverage since extended reporting (“tail”) coverage is never necessary.

Claims-Made Coverage

The Claims-Made form covers claims reported while the policy is in force. It does not cover claims reported after the policy has lapsed or is canceled. This may require the purchase of extended reporting period (“tail”) coverage to protect for future claims.

One of the unique features of coverage with AAOIC is that free tail coverage is provided upon death or total permanent disability at any age and upon retirement (totally cease practicing dentistry) if you have reached 50 years of age and have had continuous coverage by AAOIC at the time of cancellation for at least four years. You may only receive one free extended reporting period endorsement in your lifetime.

If you are switching to AAOIC from another insurance company and have had continuous claims-made coverage with no breaks, you will be eligible, subject to underwriting, for full retroactive coverage so you will not have to purchase expensive tail coverage from your previous insurer.

If you are switching from occurrence to claims-made or this is your first claims-made policy, you will be eligible for step-factor premiums, which means that your premiums in the first four years will be significantly lower than with occurrence coverage. Lower premiums make this form very attractive to most AAOIC insureds.