Can I start out with one type of policy and switch to the other?

Yes. There are several things to keep in mind, depending on the situation:

Switching from a claims-made policy to an occurrence policy
In this case, you may not have coverage for claims reported after the termination date of your claims-made policy. To be protected, you'd need to purchase an extended reporting period endorsement (tail coverage).

Switching from an occurrence policy to a claims-made policy
To avoid gaps, it is important to make sure the retroactive date of your claims-made policy is no later than the termination date of your occurrence policy. Then, when you end your claims-made policy, you'll need to obtain tail coverage to protect yourself against claims which may be reported after your coverage ends.

Switching to a claims-made policy with NCMIC from another claims-made policy
You may want to request NCMIC coverage dating back to your original claims-made policy retroactive date. That way, you'll have protection for claims that may eventually be filed as a result of incidents that happened prior to moving to NCMIC. Contact us before you terminate your other coverage so we can help you avoid any gaps in coverage.

< Back to Frequently Asked Questions

The NCMIC Malpractice Insurance Plan is underwritten by NCMIC Insurance Company. In the states of Florida and New York, the NCMIC Malpractice Insurance Plan is issued by NCMIC Risk Retention Group, Inc.

The terms and conditions of NCMIC's Malpractice Insurance Plan are fully explained in the policy. Policy features vary by state and may be subject to underwriting approval. For details, view this pdf.