Doctors help people stay healthy and cure various medical illnesses. However, medical malpractice can happen in some situations. And when it happens, the victims may suffer serious losses; some may even lose their lives.
But imagine a scenario where a plaintiff is pursuing a medical malpractice claim and the medical professional doesn’t have an insurance policy. Tail coverage solves this issue. It covers medical malpractice claims that are filed after the insurance policy of the medical professional has expired. Medical malpractice claims are ridden with complexities, and a medical malpractice lawyer can help deal with them.
This article will explain the tail coverage in medical malpractice claims.
How Does the Tail Coverage Work?
In the event that a physician, without a valid insurance policy, engages in medical malpractice, the patient might not have the means to collect compensation for the losses they have sustained.
There are instances where the victim’s condition was detected after the expiration of the medical professional’s policy period. The professional might have obtained new insurance coverage, but it’s possible that this new policy may not cover malpractice episodes that happened before the policy’s inception.
Because of this, the doctor isn’t officially covered by insurance for this claim, which could make it difficult for the plaintiff to recover all of their losses. They may attempt to obtain money from the doctor’s assets.
Still, if the injuries are severe, these may not be sufficient to pay for the accompanying medical expenses.
Tail coverage is possible as long as the malpractice occurrence happens during the initial policy period. Medical professionals will also have to pay additional premiums for tail coverage.
Other Options
Few insurers may offer doctors other options, such as an “extended reporting” endorsement, which costs less than standard tail coverage.
Rather than going with the typical unlimited term, you can also choose to acquire limited term tail coverage or reduced liability limits. It is important to make sure that these choices meet the standards of the hospital or group practice the medical professional is joining.
How Much Does a Tail Coverage Cost?
Tail coverage is an extra premium that doctors must pay. It is usually a wise choice to purchase tail coverage, even if the premium may be significantly higher than the premiums for regular insurance, so that the doctor does not jeopardize their own assets.
The tail coverage premium may be paid over several installments, or the medical professional may be allowed to write it off as business costs for tax purposes. When medical professionals collaborate, they may divide the tail coverage premiums among themselves.
Conclusion
Understanding the intricacies of medical malpractice claims is essential if you have been seriously hurt by a medical professional and want to hold them responsible. These medical malpractice cases require:
- Thorough examination of complicated medical records
- Adherence to special laws and court orders
- Competent demonstration of the evidence
- The ability to battle for a fair outcome
All of this implies that if you’re facing a healthcare professional and their insurance company, you need an experienced attorney on your side. A lawyer’s skill and desire to fight for their client and put together the strongest case possible—often with the aid of a network of medical experts and consultants—cannot be replaced.
