WHAT WE OFFER
Occurrence Based Medical Malpractice Coverage
PRF offers its policyholders the security of Occurrence Based Coverage while other insurers offer Claims Made Coverage. An occurrence policy provides coverage for any incident that occurs during the policy period, regardless of when a claim is made. A claims made policy only provides coverage when a claim is made during the policy period.
For example, suppose that an obstetrician-gynecologist is insured with PRF in 2014. In 2016, he relocates his practice and is no longer insured with PRF. In 2019, the parents of an infant born in 2014 file a lawsuit for birth related injuries. Although the physician has relocated his practice and is no longer insured with PRF, he is still covered by his occurrence policy because the incident resulting in the claim occurred during his PRF policy period. The same physician with a claims made policy would not have coverage for this claim unless he had purchased additional “tail coverage.”
Discounted Prior Acts Coverage
PRF offers Prior Acts Coverage to accommodate providers who want to join PRF but face the obstacle of purchasing tail coverage from a former insurer. Our Prior Acts Coverage provides the same protection as tail coverage but at a substantially reduced price.