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 ?
If the employer does not offer you tail coverage, then it is your responsibility to pay for this insurance, which can be expensive.
Tail coverage (or tail insurance) is a general concept that is utilized to extend the claims made reporting time on claims made policy forms of medical professional liability policies.
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.
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.
if you change insurers or do not renew a claims-made (2) insurance policy, purchasing tail coverage (3) is recommended.
As a result, most target companies purchase a non-cancellable, pre-paid policy for a six-year period, which is known as run-off or tail coverage.
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.
Discuss the difference between the basic tail coverage and supplemental tail coverage