Terms

Occurrence Based Policy
Insurance that pays claims arising out of incidents that occur during the policy term, even if they are filed years later or if the policy is no longer in effect. Ours is an occurrence base policy.

Claims-Made Coverage
A policy providing liability coverage only if a written claim is made during the policy period or any applicable extended reporting period.

Malpractice
Professional misconduct or lack of ordinary skill in the performance of a professional act which renders the practitioner liable for damages.

Malpractice Insurance
Insurance on a professional practitioner that will (1) defend suits instituted against him for malpractice and/or (2) pay any damages set by a court, subject to suit policy limits.

Professional Liability Insurance
See Malpractice Insurance.

General Liability Insurance
A form of insurance designed to protect practitioners from liability exposures arising out of accidents resulting from the premises.

Product Liability Insurance
Insurance on a professional practitioner from suits arising out of damage caused by a product used on a client.

Damage to Premises
Property Damage to any one premises while rented by the Insured or in the case of damage by fire, while rented by the Insured or Temporarily occupied by the Insured with permission of the owner of premises.

Per Occurrence limit
This is the limit for all damages, whether property damage or bodily injury resulting from one occurrence. Our policy has a $ 2 million per occurrence limit.

Aggregate limit
This is the maximum limit for all claims against you during the policy period. Each claim paid reduces the remaining coverage for the period until the aggregate amount is paid. Our policy has a $ 3 million individual aggregate.

If you are named in a malpractice lawsuit, an experienced malpractice attorney will be provided for you if needed. In addition, all legal expenses you incur to settle covered claims against you will be paid – win or lose.