On a claims-made policy, the answer depends on what you buy at the end. A claims-made form responds to claims reported while it is in force, so cancelling it without more can leave the years you practiced unprotected. Tail coverage, also called an extended reporting period, keeps that reporting window open after the policy ends. The alternative is prior acts coverage from the incoming carrier, which picks up the earlier years instead. Tail is usually priced as a multiple of the expiring premium, and some policies grant it at no cost on retirement, death, or disability after a stated number of years. Ask before you need it.
Related FAQs
Annually, and any time the practice changes what it does. Adding a procedure, adding an advanced practice provider you supervise, opening a second location, or treating patients by telehealth ...
To the retroactive date on your declarations, and no further. A claims-made policy names a date, and an incident that occurred before it is outside the coverage even if ...
There is no standard figure. The range is usually set by your specialty and the procedures you perform, the requirements of any hospital, facility, or credentialing body you work ...
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