SOURCE: Malpractice Tail Coverage
Optional Extended Reporting Period Coverage, more commonly known as Malpractice Insurance Tail Coverage, is an insurance product purchased so that liability coverage extends beyond the end of the policy period of your claims-made medical malpractice insurance coverage.
When practicing medicine under a claims-made insurance policy (by far the most common form of medical liability coverage), your insurance company is only obligated to pay claims received during the effective policy period. Because a medical injury can take months, even years to reveal itself, you can have a claim filed against you well after the policy you were practicing under has expired, been cancelled or non-renewed. Under such circumstances, you will need Tail Coverage to protect against those claims not known about at the end of the policy period.
