What happens when I switch my medical malpractice insurance carrier? We hear this question every week when working with physicians and changing their medical malpractice insurance company. The short answer is that if done correctly nothing should happen when you switch medical malpractice insurance carriers. If you working with a professional agent they will guide through the process and it should be a painless transition.
In most cases if you are not making any major changes to your medical practice you will not have to purchase tail coverage from your insurance carrier. You should be able to get prior acts coverage from your new insurance carrier. Under a claims-made policy, this coverage provides insurance for claims arising from incidents that occurred while a previous claims-made policy or policies were in effect, but were not reported until that policy (or the last in a succession of policies) was terminated. With retroactive coverage, the new policy covers such claims. With such coverage, purchase of tail coverage from the previous carrier is not necessary
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