prior acts coverage

A popular term for a supplement to a claims-made malpractice insurance policy that may be purchased from a new carrier when a physician changes carriers and had claims-made coverage with a previous carrier; nose coverage covers incidents that occurred before the beginning of the new insurance relationship but for which no claim has been made

prior acts coverage

Nose coverage, see there.
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Many appraisals targeted by the flood of lawsuits hitting Florida relate to appraisals performed in 2005 and 2006, and unfortunately, a few appraisers have learned their policies don't cover work dating back to those years because they either allowed their coverage to lapse at some point or they purchased a policy that did not include prior acts coverage even if they were eligible, as sometimes occurs when an appraiser fills out an application for individual-only coverage without understanding prior acts coverage.
Coverages include malpractice insurance, cyber liability, medical waste coverage, defense costs outside of the limit available, consent to settle, full prior acts coverage, new dentists' credit and free tail at retirement.
In our consideration of the physician's needs, we requested the Mutual to offer prior acts coverage and subsequently tail after one year.
Also known as a "nose," Prior Acts coverage will extend protection for certain claims reported in the future under a new occurrence form policy.
A full range of benefits include: defense expense options, full prior acts coverage to qualified firms, personal injury and advertising liability coverage, client discrimination claim coverage, disciplinary defense, regulatory inquiry and defendant reimbursement, deductible credit for mediation, first dollar defense option and subpoena assistance.
Most E&O coverage is written on claims-made coverage forms ("claims made" when referenced refers to "claims made and reported" policies rather than the less common "pure claims made") that may include prior acts coverage for the agency.
Be sure to ask about prior acts coverage, deductibles, defense costs (inside, or outside limits), as well as the cost and length of the extended reporting period.
A claims-made insurance policyholder may need to purchase an extended reporting period (ERP) if coverage is terminated and not replaced, switched to an occurrence form or if the renewal claims-made policy will not afford prior acts coverage.
Travelers offers protection for its insureds with a "claims-made and reported" policy that features "duty to defend" and "pay on behalf of" wording, prior acts coverage and--to reduce claims potential via early intervention--$10,000 defense coverage outside of the retention for disciplinary proceedings.
The E&O coverage is provided on a duty-to-defend basis and prior acts coverage is available.
Some additional examples of coverage enhancements is the ability to offer professional liability with defense costs outside the limit, full prior acts coverage, agreed amount blanket building and contents limits, and ordinance and law coverage.
Most insurance companies do not offer prior acts coverage to first-time buyers of E&O insurance.