What is Malpractice Tail Coverage? What options are available?
David Leander, one of our veteran medical malpractice insurance agents that has helped thousands of doctors across the country secure malpractice coverage explains what Tail Malpractice Coverage is and what options are available. If you want David or one of our other malpractice insurance agents to walk you through the tail buying process, head over here for a free quote.
Tail coverage is for physicians who have a claims-made policy. They are either looking to retire, or possibly, it could be written in their contract if they are an employee at a hospital or a practice. And, when they leave that hospital or practice, it could be required that they tail out, which means that they have to purchase an extended reporting endorsement, which basically, it’s an insurance policy that covers all of the work that they had done under that claims-made policy. Some of the different types of options depend on the insurance company. Some insurance company will, every single year, redo the limits of liability. Some, if you exhaust your limits, you exhaust them. Some companies, like surplus lines companies, they have a limit on how much…how long a tail will last. Typically, it’s 12 months, 2 years, or 3 years.