Chiropractor Claims-Made and Tail Coverage
This type of policy provides coverage for claims involving alleged incidents that both occurred and were reported while the policy was active. To remain continually covered, it’s important for the policyholder to renew their claims-made coverage regularly.
Our claims-made policy offers a lower premium during the early years of your policy. The premium steps up each year until reaching maturity in year 5 of the coverage. While this saves some money in your early years of practice, potential coverage gaps can occur. It's important to work with a NCMIC Client Service Representative at the time of cancellation to ensure all potential gaps are identified.
Tail Coverage Insurance
Under a claims-made policy, you have the option to purchase an Extended Reporting Endorsement or "Tail Coverage." This coverage allows claims to be reported for an unlimited time, as long as the alleged incident occurred on or after the retroactive date but before termination of the policy.
Buying tail coverage is a one-time purchase, does not expire and cannot be cancelled by you or by NCMIC. In most cases, tail coverage through NCMIC must be purchased within 60 days after your claims-made policy terminates and may not be available if your policy was cancelled due to non-payment of premium. NCMIC provides tail coverage at no additional charge after 10 years of continuous coverage.
Claims-Made vs. Occurrence Coverage Differences
What are the differences between the 2 coverages?