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Stand-Alone Medmal Tail Policies: What Is It About?

Updated: Sep 21, 2023

A stand-alone medmal tail policy is a type of insurance policy that provides coverage for claims that may arise after a healthcare provider's traditional medical malpractice insurance policy has expired. This type of policy can be more affordable than standard medical malpractice insurance policies because it only covers claims that arise after the policy has expired. This means that healthcare providers can save money by only paying for the coverage they need.

How Stand-Alone Medmal Tail Policies Can Save Money

  1. Avoid Retroactive Coverage Costs: Retroactive coverage is an additional insurance policy that covers claims that arose before the policy was purchased. Traditional medical malpractice insurance policies often require retroactive coverage, which can be expensive. Stand-alone medical malpractice tail policies only cover claims that arise after the policy has expired, eliminating the need for retroactive coverage and saving healthcare providers money.

  2. More Affordable Premiums: Stand-alone medical malpractice tail policies can have lower premiums than traditional medical malpractice insurance policies. This is because they only cover claims that arise after the policy has expired, reducing the risk of a claim being filed and lowering the cost of the policy.

  3. Flexibility: Stand-alone medical malpractice tail policies are flexible and can be customized to meet the needs of healthcare providers. This means that healthcare providers can choose the coverage they need and adjust their policies as their needs change. This flexibility can save money by ensuring that healthcare providers are not paying for more coverage than they need.

  4. Reduced Claims History: Claims history can significantly impact the cost of medical malpractice insurance. Healthcare providers can reduce their claims history by purchasing a stand-alone medical malpractice tail policy. This is because the policy only covers claims that arise after the policy has expired, reducing the number of claims filed under the traditional medical malpractice insurance policy.


SelectFirst Insurance Stand-Alone Medmal Tail Policies Medmal Insurance

This can be an excellent option for healthcare providers who want to save money on medical malpractice insurance. By providing coverage for claims that arise after the traditional policy has expired, stand-alone policies can be more affordable, flexible, and can help healthcare providers reduce their claims history. If you are a healthcare provider, consider looking into stand-alone medical malpractice tail policies to save money while still having the necessary insurance coverage. Got Questions about Medmal Insurance? Contact SelectFirst Insurance today!


Contact SelectFirst Insurance today for help with your Medmal insurance. Call (888) 966-3881or Email us at info@selectfirstinsurance.com. Disclaimer: The information provided on this blog is for general informational purposes only. The blog's content is not intended as legal, financial, or professional advice. By accessing this blog, you acknowledge and accept these terms of use and any additional terms and conditions that may appear on this blog from time to time.

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Contact SelectFirst Insurance today for help with your Medmal insurance. Call (888) 966-3881or Email us at info@selectfirstinsurance.com.

 

Disclaimer: The information provided on this blog is for general informational purposes only. The blog's content is not intended as legal, financial, or professional advice. By accessing this blog, you acknowledge and accept these terms of use and any additional terms and conditions that may appear on this blog from time to time.

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