Which type of malpractice insurance only covers events while the provider is paying the premium?

The correct response focuses on claims-based malpractice insurance, which provides coverage for claims that are made during the policy period as long as premiums are paid. This type of insurance is specifically designed to cover incidents that occur while the coverage is active. If a claim arises from an incident that happened when the policy was in effect, but it is reported after the policy has lapsed, the insurer will not cover those claims.

In contrast, occurrence-based insurance covers claims for any incidents that occurred during the policy period, regardless of when the claim is made. This means that even if a claim is filed years later, as long as the incident occurred while the policy was active, it will be covered. Self-insured refers to a situation where the provider assumes the risk themselves rather than purchasing traditional insurance, while excess coverage refers to additional insurance that kicks in after a certain limit of the primary insurance is reached. Understanding the nuances of these insurance types is crucial for providers to ensure they have appropriate coverage for their practice and to protect themselves from potential claims adequately.