How long do I have to purchase an extended reporting endorsement or tail coverage?
Providers have 45 days from the date of termination of their claims made policy to pay the PCF tail surcharge either directly to the PCF or the underlying insurer to forward to the PCF. In order to have PCF tail coverage, there must also be tail coverage with the underlying insurer, prior acts coverage with a new insurer or a self-insured security in the amount of $125,000 in place specifically for tail coverage. Tail coverage is not needed for providers with occurrence type of coverage. There are some exceptions regarding tail coverage and these can be found in the rate manual.
Related Questions
- If my NORCAL policy is terminated, and I choose to not purchase an Extended Reporting Period Endorsement (tail coverage), my contract requires my insurance carrier to provide the other party with the option of purchasing the tail coverage. Will NORCAL provide this option to the other party?
- How much time does an APAC insured have to purchase the Extended Reporting Period (tail) endorsement?
- How much time does a FPIC insured have to purchase the Extended Reporting Period (tail) endorsement?
