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.
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).