Why Orthopedic Surgeons Need Tail Insurance
Orthopedic surgery is a high-risk specialty, making it subject to a high amount of malpractice claims. Independent studies have found that orthopedic surgeons have one of the highest chances of facing a medical malpractice lawsuit over the lifetime of their practice. Tail insurance protects orthopedic surgeons for potential malpractice claims that have not yet been made against them.
How Much is Tail Insurance for Orthopedic Surgeons?
Because surgical procedures are considered at high risk of malpractice lawsuits, orthopedic surgeons pay a significant amount for medical malpractice insurance premiums, although premiums do vary by state. Combine this with a long exposure period and tail insurance policies for orthopedic surgeons can be particularly expensive.
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Tail insurance generally costs around 200-250% of your expiring claims-made premium. For example, if an orthopedic surgeon pays $30,000 per year for a claims-made premium, the tail cost would be estimated at $60,000. Keep in mind that tail insurance premiums are usually due in full within 30 days of the last day of coverage under your current claims-made policy.
Examples of approximate tail costs for orthopedic surgeons:
| City | State | Tail Estimate Ortho – No Spine | Tail Estimate Ortho – With Spine |
|---|---|---|---|
| Birmingham | AL | $50,000 | $62,500 |
| Little Rock | AR | $50,000 | $62,500 |
| Phoenix | AZ | $70,000 | $87,500 |
| Los Angeles | CA | $50,000 | $62,500 |
| Denver | CO | $80,000 | $100,000 |
| Bridgeport | CT | $70,000 | $87,500 |
| Wilmington | DE | $80,000 | $100,000 |
| Washington DC | $130,000 | $162,500 | |
| Miami | FL | $120,000 | $150,000 |
| Miami | FL | $90,000 | $112,500 |
| Atlanta | GA | $70,000 | $87,500 |
| Honolulu | HI | $80,000 | $100,000 |
| Des Moines | IA | $40,000 | $50,000 |
| Boise | ID | $30,000 | $37,500 |
| Chicago | IL | $150,000 | $187,500 |
| Wichita | KS | $40,000 | $50,000 |
| Louisville | KY | $60,000 | $75,000 |
| Indianapolis | IN | $40,000 | $50,000 |
| New Orleans | LA | $40,000 | $50,000 |
| Boston | MA | $70,000 | $87,500 |
| Baltimore | MD | $100,000 | $125,000 |
| Portland | ME | $50,000 | $62,500 |
| Detroit | MI | $100,000 | $125,000 |
| St. Louis | MO | $80,000 | $100,000 |
| Minneapolis | MN | $30,000 | $37,500 |
| Jackson | MS | $90,000 | $112,500 |
| Billings | MT | $100,000 | $125,000 |
| Charlotte | NC | $50,000 | $62,500 |
| Fargo | ND | $30,000 | $37,500 |
| Omaha | NE | $30,000 | $37,500 |
| Manchester | NH | $80,000 | $100,000 |
| Albuquerque | NM | $50,000 | $62,500 |
| Newark | NJ | $90,000 | $112,500 |
| Las Vegas | NV | $80,000 | $100,000 |
| Manhattan, NY | NY | $230,000 | $287,500 |
| Columbus | OH | $80,000 | $100,000 |
| Oklahoma City | OK | $70,000 | $87,500 |
| Portland | OR | $40,000 | $50,000 |
| Philadelphia | PA | $80,000 | $100,000 |
| Providence | RI | $60,000 | $75,000 |
| Charleston | SC | $60,000 | $75,000 |
| Nashville | TN | $60,000 | $75,000 |
| Houston | TX | $60,000 | $75,000 |
| Salt Lake City | UT | $60,000 | $75,000 |
| Burlington | VT | $40,000 | $50,000 |
| Seattle | WA | $60,000 | $75,000 |
| Virginia Beach | VA | $60,000 | $75,000 |
| Charleston | WV | $100,000 | $125,000 |
| Cheyenne | WY | $80,000 | $100,000 |
Tail Insurance for Orthopedic Surgeons Changing Jobs
If you are considering changing jobs, one of the first things you should do is review your current insurance program and your options with an independent medical malpractice insurance broker.
No matter where you practice – whether you are in private practice or hospital employed – orthopedic surgeons have the ability to choose the carrier they prefer as well as the coverage terms that best suit them.
When you work at a hospital, they choose the insurance carrier they believe is best for them – which is rarely the best for the orthopedic surgeon working there. An independent broker like MEDPLI delivers all of your tail insurance options from a wide range of carriers, so you can ensure your tail is properly covered without paying the exorbitant price of the hospital-provided policy.
Tail Insurance Considerations for Orthopedic Surgeons Changing Focus
Liability insurance companies classify orthopedic surgeons into three separate risk categories for orthopedic surgery. These are:
Medical malpractice insurance for orthopedic surgery with spine is associated with the highest risk and subsequently has the highest premium charge. Towards the end of their careers, many spine surgeons elect to switch their focus to non-spine orthopedic surgery. When a physician switches to orthopedic surgery – no spine, their current medical malpractice insurance carrier needs to continue to cover the spine surgery in the physician’s prior acts.
If an orthopedist wants to switch carriers, the new carrier will need to cover the orthopedic surgeon back to the retroactive date listed on the physician’s current declarations page or certificate of insurance (the first date of employment with your last employer), even if they are no longer performing surgery.
To learn more about tail insurance, read our post on 3 Things Doctors Need to Check When Buying Medical Malpractice Tail Insurance or take a look at our Tail Insurance Buying Guide. If you’re ready to get started, contact us about your specific insurance needs or use our Tail Insurance Estimator tool below to get a quick quote.
MEDPLI Tail Estimator
