NJ PURE

Policies /

Occurrence-Type

This is the most traditional insurance policy that you may have purchased in other lines of insurance, similar to your auto insurance or homeowners’ insurance policy. Essentially, in an "occurrence-type" policy, you are covered against any person who sues you for medical malpractice, as long as the incident that gave rise to the lawsuit “occurred” while you were insured by the insurance carrier.

DISCLAIMER: This description is written in general terms for guidance and should not be relied upon in place of the language contained in your policy.

Claims-made

Generally, in a claims-made policy, you are only covered against a person who sues you for medical malpractice if two conditions are met:
(1) The incident that gave rise to the lawsuit occurred while you were insured with the insurance carrier; and
(2) at the time that the person brings forth the lawsuit, you are still insured with the carrier.

If you are non-renewed, cancel coverage or leave the insurance carrier that carried your claims-made policy, you can be protected for claims reported after you leave the insurer if you purchase an endorsement. This endorsement, which extends your reporting time, is called the Extended Reporting Period Endorsement (ERP) and is often referred to as the “tail." Generally with NJ PURE purchasing an ERP will be two times your expiring annual premium.

Free Tail Conditions: If you (1) die, become disabled, or are 55+ years old, (2) have been with NJ PURE for five full years, and (3) retire and never see another patient, you are generally entitled to a "tail" endorsement free of charge.

DISCLAIMER: This description is written in general terms for guidance and should not be relied upon in place of the language contained in your policy.

Switch to occurrence-type

Now, getting out of your claims-made policy can be affordable. NJ PURE offers an alternative to buying your costly tail from a previous insurance carrier. With our new Occurrence-Evergreen Policy form with Retroactive Pick-up you can finally switch from your current claims-made policy to an occurrence-type policy. For doctors who weren’t fully informed about the pitfalls when they decided to join a claims-made policy, this is the long-awaited opportunity to revert back to the traditional occurrence-type policy form. Contact NJ PURE directly to learn more details and see if you qualify for this coverage. If you qualify, you’ll receive a quote for this option within days.