What is the best way to change insurance carriers?
When changing insurers, you must be sure to prevent any gaps in coverage. This can be accomplished by either purchasing a ‘tail’ (run-off) coverage from the previous isurer, or by purchasing a ‘nose’ (prior acts) coverage from the new carrier. You must make sure the retroactive date on the new policy is the original effective date of the previous policy in order to have prior acts coverage back to the same original date.
