tail coverage


Also found in: Financial.
A malpractice insurance rider or supplement to a claims-made policy that provides coverage for an incident that occurred while the insurance was in effect but was not filed by the time the insurer-policyholder relationship terminated

tail coverage

Malpractice A malpractice insurance rider or supplement to a claims-made policy that provides coverage for an incident that occurred while the insurance was in effect but was not filed by the time the insurer-policyholder relationship terminated. See Malpractice, Statutes of limitations. Cf 'Going bare. ', Nose coverage.
References in periodicals archive ?
Tail coverage (which is actually an Extended Reporting Endorsement that is added to the then current policy) can be purchased as a separate policy from carriers other than your current carrier.
Most D&O policies offer tail coverage, though the terms, conditions, and pricing of such coverage varies.
A good agent will ensure that all non-renewing claimsmade policies have tail coverage.
if you change insurers or do not renew a claims-made (2) insurance policy, purchasing tail coverage (3) is recommended.
You will need "tail" coverage against belated claims after you retire, but many companies provide free tail coverage after you've been insured for a minimum period (usually 5 years).
1, 2 and 3 year optional tail coverage available per the policy terms.
In a mergers and acquisitions scenario, the excess and surplus lines market comes into play through the buyout of historical liabilities and the provision of tail coverage.
In other words, tail coverage extends the life of the claim policy and makes it current.
When an organization goes out of business, it should always buy the tail coverage so when the coverage stops, the policy covers the officers and directors for a period of time.
Absent the two physicians entering retirement where the tail coverage premium would be waived, the tail coverage expense to remain in practice was quite large.
Zisow said he wouldn't be able to afford to buy the tail coverage that would be necessary to start practicing obstetrics again.