An Occurrence policy covers a loss that occurs during the policy period regardless of when that claim was made. A Claims-Made policy requires the claim be made or reported while the policy is in force or during the extended reporting period (Tail). Both an Occurrence policy and Claims-Made policy have their strengths. In general, most lower premium paying medical professionals carry Occurrence coverage whereas most higher premium paying medical professionals have the option to purchase Claims-Made which can be less money during the initial years.