Do I need to buy tail when I switch carriers?

By |2024-02-21T09:14:29-06:00March 19th, 2021|

Whether or not you need to buy tail depends on your situation – contact a MEDPLI Insurance Broker if you have any doubts after reading this.  With claims-made insurance, you need to ensure you have prior acts coverage on the new policy or you will need tail. If you are considering changing carriers, you need [...]

Where does MEDPLI provide services?

By |2021-03-24T18:11:41-05:00March 19th, 2021|

MEDPLI provides medical professional liability insurance solutions to doctors and healthcare entities across the United States.  To inquire about your unique situation, contact info@medpli.com and tell us about you and the problem you need to solve.  Even if we can’t help you, we may have resources that can help.  We are all in this together!

What is tail insurance?

By |2021-03-24T18:16:35-05:00March 19th, 2021|

Tail insurance allows the insured to report claims that are not yet made while the claims-made policy is in force (since claims-made responds when the claim is made as opposed to when the incident occurs).  Tail is the mechanism that allows you to report claims to your insurance company after your claims-made policy expires. When your [...]

What is claims-made insurance?

By |2021-03-24T18:19:45-05:00March 19th, 2021|

Claims-made insurance policies respond to claims based on when the claim is first made alleging malpractice.  Claims-made is the most common form of medical professional liability insurance policy in the USA.  It is different than occurrence form coverage.  Occurrence form, in contrast, responds to claims based on when the incident occurs. Example to illustrate the [...]

How much does tail insurance cost?

By |2024-02-21T09:17:05-06:00March 19th, 2021|

Tail insurance generally costs 200% of the expiring claims-made premium.  If you are paying $40,000 per year, the tail insurance would cost around $80,000.  This is a general rule of thumb, which could be different depending on your unique situation.  To get your tail insurance estimate, contact your MEDPLI Insurance Broker.

Does my employer’s malpractice insurance extend to me?

By |2021-03-24T18:33:30-05:00March 19th, 2021|

“Within the scope of your employment” is an important phrase to remember when considering new practice opportunities. If your employer has provided you with malpractice insurance, it is only good for claims arising within the scope of your employment.  If you provide medical services outside of your employment, you will need a separate policy. MEDPLI [...]

What are limits of liability?

By |2021-03-24T18:36:43-05:00March 19th, 2021|

Your limits of liability are the maximum amount your carrier will pay out under your policy.  Most doctors carry $1,000,000 per claim/$3,000,000 aggregate limits for professional liability.  This means the most the carrier will pay is $1,000,000 per claim, not more than $3,000,000 in total.

What is my retroactive date?

By |2021-03-24T18:49:31-05:00March 19th, 2021|

Your retroactive date is a critical component of your claims-made policy. It stays the same as long as you renew your coverage, so even though your effective and expiration dates change each year, your retroactive date should remain the same.  Your retroactive date is the earliest date you are covered under your claims-made policy. For [...]

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