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 ?
When the insurer of the physician provides tail coverage it is done by endorsement to the policy by adding and Extended Reporting Endorsement to the policy thereby accomplishing an extension of time to report claims that have already occurred, but not yet reported.
Tail coverage is only applicable to claims-made policies and it extends the reporting period in which a claim can be made.
In KAMMCO's case, tail coverage is offered by medical malpractice carriers, explains Grittman, to cover a physician who may have retired but a former patient decides to sue two years after an incident takes place.
List the factors that go into an insurer's pricing 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.
Supplemental tail coverage is activated by adding endorsement CG 27 10, Supplemental Extended Reporting Period Endorsement, to the expired or cancelled policy.
Zisow said he wouldn't be able to afford to buy the tail coverage that would be necessary to start practicing obstetrics again.
To address this exposure, you can purchase an extended reporting period endorsement, or tail coverage.
professional malpractice insurance, tail coverage, errors and omissions insurance, or directors' and officers' liability coverage).