Tail Coverage


Also found in: Medical.

Tail Coverage

A form of insurance in which the insurer will pay claims on events occurring during the policy period even if they are filed after the insurance has lapsed. For example, if an employee falls off a ladder in June and the employer allows the employee's workers compensation insurance to expire in July, tail coverage would pay the claim even if the employee does not file until August.
References in periodicals archive ?
Have you confirmed the limits of liability and retroactive date and how tail coverage will be handled?
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.
The entire cost of the tail coverage from the original carrier
His insurer, Medical Mutual, allowed him to forego paying tail coverage for obstetrics because of his many years with the company.
What of the obstetrician late in his or her career who desires to transition out of obstetrics and yet faces the prospect of an exorbitant tail coverage payment?
Zero retentions and unlimited tail coverage can also be included.
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).
Advocate, MD offers risk management services, claims-made and continuous policies, retroactive and tail coverage, and medical board defense to physicians in all medical specialties, individually and in groups in all counties.
Premium waived for tail coverage for death and disability; and permanent retirement subject to policy terms.
Along with discussing tail coverage during a merger, doctors should also be wary of "anti-compete" clauses in contracts with larger hospitals and health systems.