Malpractice insurance for the New guy

[newspineguy]

Hello everybody,

Seeking Some help on this forum. Just finishing fellowship and headed for a new job at a private practice in NY associated with a hospital. upon contract negotiations- it was revealed that the malpractice coverage is claims based and I am responsible for purchasing my own tail (in case I leave at the end of the contract terms- which is 2 years). Does anyone have some advice on this topic? I have heard that NY tail coverage can run into the six-figures. Considering the low starting salary, student debt to be paid off; adding payments for tail coverage seems financially unsound.

 

Please Help

Thanks

[Hatton]

Tail coverage is something like 2.5 years of premiums.  If you leave after 2 years you probably will not have a tail if you stay with the same carrier.  My carrier has a policy that if you stick with them for 10 years then no tail.