Claims-Made vs Occurrence PI Policies: Which Is Right for You?

Most UK PI insurance is claims-made, but some policies are occurrence basis. Understanding the difference is critical for coverage.

Claims-Made Basis

Protects you for claims reported during policy period, regardless of when error occurred. Standard in UK.

Occurrence Basis

Protects you for errors occurring during policy period, regardless of when claim reported. Less common but broader protection.

Key Differences

Claims-made more affordable with narrower window. Occurrence more expensive but broader protection and better for career changes.

When You Stop Working

If you retire, current policy terminates. Claims notified after aren't covered without run-off cover.

"The worst nightmare is getting a claim years after retiring, only to find insurance lapsed."

— Institute of Chartered Accountants

Frequently Asked Questions