Stand Alone Tail Policy can help you land a new position!

With the rise of hospital employment offers in the country, The Doctors’ Insurance Agency is happy to assist physicians with the important purchase of a ‘stand alone’ tail insurance policy.

Tail Insurance Covers you for claims not yet known or reported, based on events that occurred in the past.  A tail insurance policy can run for 18 months, or as long as indefinitely.  The reason we describe this as a ‘stand alone’ policy is that normally, these policies are purchased when the last policy in force is cancelled and the tail cost is triggered (normally within the first 60 days).  The timing of purchasing tail is integral to the product acquisition.  This is because the longer you wait, the more likely there is (or at least, the perception is) that an event has already occurred.  This theory is what underlies the idea of a 60 day window.  Like everything in the world of medical malpractice insurance, timing is key.  The quicker you respond, the fewer gaps in a coverage presentation, the more likely you are to have success in obtaining the insurance.

It is important to note that procuring a stand along tail policy is not a guarantee,  the underwriter will want a warranty that there is, in fact, nothing ‘brewing’ and the underlying practice history and specialty and length of time of course will have an impact on the premium.

Now is a good time to be in the market for tail insurance because hospitals will also purchase more tail coverage as newly hired physicians move away from their premiums policies. Expect insurers to capitalize on this opportunity, which means that these policies will be a little bit more accessible to physicians who need them.

Some not surprising data supports that our physicians will need this coverage, Hospitals will hire more physicians in the coming years, they will staff facilities, increase access to specialists.  In 2010, Community Hospitals hired 91,000 physicians. 

Physicians working for small, rural hospitals or inner-city corporate chains, individually owned facilities or large surgery centers will possibly be put in to the market to clear their past claims history so that they can sign their new employment contract.

Comments

Got something to say? Join the discussion ยป

Leave a Reply

 [Quick Submit with Ctrl+Enter]

Remember my details
Notify me of followup comments via e-mail

  1. Re: Visiting Residents/Intern/ Fellow (Hands On) Medical Malpractice Insurance

    I am a final year medical student planning to do a couple of electives in medical school in the US and...

    -- Varun

  2. Re: Occurrence Professional Liability Insurance vs. Claims Made Liability Insurance

    nike air max 97 true religion jeans ferragamo Salomon Speedcross 3 jordan 11 balenciaga women fitflop...

    -- xuehui51

  3. Re: Is the Medical Director Contract worth it if the Cost of Malpractice Insurance is too High?

    chrome hearts bracelet air max 97 kate spade wallet ugg uggs for women nike air max 90 under armour ugg...

    -- jingting17

  4. Re: The Growth and Success of Entrepreneurial Medicine- Urgent Care Centers

    balenciaga ed hardy red bottom shoes fitflop sandals fitflop shoes salomon xa pro 3d air jordan cartier...

    -- jingting17

  5. Re: National Liability Insurance for Medical Directors

    pandora jordan 11 kd 9 nike air max 2018 stephen curry shoes moncler,moncler jacket nike shoes fitflop...

    -- xiuying23

  6. Re: Imaging Center Liability Insurance

    salvatore ferragamo shoes under armour jackets yeezy boost 350 hermes belt women Yeezy Shoes adidas nmd...

    -- yaling45

  7. Re: Larger, multi state Medical Malpractice Insurance Carriers have advantage

    pandora rings true religion sale moncler kd shoes kevin durant shoes supreme clothing air max 90 kyrie...

    -- xiuying23

  8. Re: Medical Malpractice Claims Trends

    yeezy lacoste outlet air max 270 air jordan polo fenty puma shoes nmd ray ban sunglasses chrome hearts...

    -- jingting17

  9. Re: Who Can Perform Liposuction Surgery?

    kyrie irving shoes under armour jackets polo ralph lauren outlet longchamp backpack asics goyard tote...

    -- jingting17

  10. Re: Does a Cosmetic Nurse Esthetician Need Their Own Professional Liability Insurance Policy?

    puma fenty moncler jacket womens fitflop coach wallet yeezy boost 350 ray ban prescription sunglasses...

    -- qiuling79