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Tag: tail coverage

How Long Should Tail Coverage Last?

How Long Should Tail Coverage Last?

Tail coverage, also known as an extended reporting period provision, is a benefit that can be added to a claims-made policy. Find out what it covers and whether it might be right for your business. Types of Claims Covered  A claims-made policy covers financial losses a business may experience due to wrongful acts, accidents, or mistakes. However, if the insurance policy has expired by the time a claim is filed, the company can be left unprotected. Tail coverage is designed…

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What is Extended Reporting Coverage?

What is Extended Reporting Coverage?

Extended Reporting Coverage, also called tail coverage, is a type of policy that can be added onto an agency’s current errors and omissions insurance. This type of coverage can be important for a number of reasons. Continue reading to learn more. A tail insurance policy is not an extension of errors and omissions coverage. Rather it is an extension of the report by date. This allows companies additional time in which to report an event that is covered by their…

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