If you have ever had to purchase tail coverage for your medical malpractice insurance policy, you know how expensive and limited your options are. Tail can be very costly, usually double the expiring premium with your incumbent carrier. Now there are options for tail coverage outside of your incumbent carrier!
In response to a growing need and interest in competitive tail coverage, Diederich Healthcare can provide stand-alone tail coverage that can save you significantly in costs without sacrificing quality of coverage. Diederich Healthcare’s stand-alone tail markets can provide quality, “A” rated coverage at premiums 10-40% less than incumbent tail costs.
Stand-Alone Tail Coverage, also referred to as an extended reporting endorsement, provides malpractice insurance coverage during the years after the original malpractice insurance policy has expired or was cancelled. Further, the stand-alone tail coverage can be tailored to match your exact tail coverage needs, whether that be for 1 year, 2 years, 3 years, 5 years, or indefinite in length. For example, a 3-year Tail, gives the insured 3 years from the termination date of the policy to report a claim from the time period the policy was in place. Obviously, an indefinite tail policy provides the most coverage and will allow the insured to report a claim at anytime in the future.
Before you simply purchase tail through your incumbent carrier, make sure you are receiving the most cost effective tail coverage by completing our no-obligation tail quote form or call 800.457.7790. Please click here to complete a quote form now.
Typical situations where Tail is needed:
- A physician leaving group employment where coverage was provided by the group, but the physician is required to purchase tail upon departure.
- A group who provides their physicians coverage and is obligated to purchase tail for a departing physician.
- A physician who will be selling his private practice and no longer needs individual malpractice insurance coverage.
- A physician joins a hospital or group setting and no longer needs his or her own individual malpractice insurance coverage.