Instead of buying a tail, physicians can opt to maintain prior acts coverage which extends back to the retroactive date of the claims-made policy, or they can renew the current policy with retroactive coverage. However, new employee contracts often prohibit these options to avoid assuming risks from the physician’s previous employer. Additionally, the former employer’s contract might require a true “Tail Policy” rather than including nose on the new policy, since tail is final and prior acts coverage must be maintained year after year.
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About the Author: Max Schloemann
Max Schloemann is a medical malpractice insurance broker helping physicians and surgeons secure Medical Professional Liability coverage. A Magna Cum Laude graduate of Southern Illinois University’s College of Business, he was named Outstanding Management Senior.
Max began his career in 2008 at an industry-leading firm and founded MEDPLI in 2017 to guide private practice doctors and physicians in transition through the complexities of malpractice insurance.
Outside of work, Max, his wife Kristen (a Physician Assistant), and their four kids enjoy the outdoors and attending the kids’ sporting events. For malpractice insurance questions, you can contact Max here.