Is there a difference in premiums for Claims-Made and Occurrence coverage?

Yes. The occurrence policy offers a steady base premium. The base premium does not increase as the policy matures.

The claims-made policy offers a lower premium during the early years of the policy. The premium steps up each year until reaching maturity in year five. While this saves some money in your early years of practice, potential coverage gaps can occur. It's important to work with your insurance company at the time of cancellation to ensure all potential gaps are identified.

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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.