claims-Made Policy or Occurrence Policy on your E&O

How many of you have a claims-Made Policy or Occurrence Policy on your E&O….and why did you choose that policy? Just trying to see which way to go on this…

What is a Claims-Made Policy?[FONT=Verdana][/FONT]
A “claims made” policy protects the policyholder against claims or incidents that are reported while the policy is in force or during an “extended reporting period”. The negligent act, error, or omission must have also occurred during the specific time frame set by the policy.[FONT=Verdana][/FONT]
What is the difference between a Claims-Made Policy and an Occurrence Policy?[FONT=Verdana][/FONT]
With an Occurrence Policy, the claim has to occur during the policy period, regardless of when a claim is actually made or reported. On a Claims-Made policy, the claim must be made or reported during the policy period, regardless of when the claim actually happened.[FONT=Verdana][/FONT]