Tail Coverage - Yikes

[vitriol102]

Hello,

Leaving a practice after 14 months. Worked as a non-interventionalist PM&R. Need to purchase tail and they are quoting $34K. Any ideas? Any companies that you would recommend. This is Florida if that makes a difference.

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[RangerBob]

Hello,

Leaving a practice after 14 months. Worked as a non-interventionalist PM&R. Need to purchase tail and they are quoting $34K. Any ideas? Any companies that you would recommend. This is Florida if that makes a difference.

Check your contract and make sure it doesn’t say the group covers it. If so, you’re off the hook. If it says you’re responsible, then you have to pay for it unless the group decides to be nice.

$34k sounds ridiculously high, but I’m in a tort reform state and I’ve heard FL is terrible for insurance. If the practice can’t/wont’t cover it, maybe you can get a quote from some other insurance companies for tail coverage. Or get your new employer to pick up the tab on the cost of tail.

WhiteCoatInvestor has a few entries about tail coverage. I’m insured with MedPro. The Doctors Company seems to be pretty popular too.

 

[Piebaldi]

Hello,

Leaving a practice after 14 months. Worked as a non-interventionalist PM&R. Need to purchase tail and they are quoting $34K. Any ideas? Any companies that you would recommend. This is Florida if that makes a difference.

FL has high premiums bc it's a lawyer dense/shady lawyer population, but nevertheless, this is absurdly high. As RB mentioned, getting it covered by your next employer is ideal, if that is not a possibility, what can be done is to get your own policy and have it back dated to when you started at this job. I discussed this with a company in the past, I'll pass the info on to you later. That is way way way too high for 14 months as a non interventioanlist.

 

[vitriol102]

Thanks for the replies. The Doctors Company has come up a few times and I'll check with them.

 

[ieatpaste37]

Tail Insurance is usually twice of what your annual premium is. Therefore your group probably paid around $17k a year for your 1st year as an attending which is extremely high for a PMR noninterventionalist but I def think it is possible in these non tort reform states.
Your options are to get a better quote by shopping around for tail insurance. You will def be able to find cheaper.
The other option is to see if your new employer or job will cover your preexisting cases and then purchase their insurance.