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Tail Insurance Qs/Limits

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  • Tail Insurance Qs/Limits

    Hi All,

    Thank you for taking the time to read this and hopefully some valuable advice. Im a long time listener and reader but first time poster.
    I have been in practice in CO, Vascular Surgery for just under two years, but due to a bunch of circumstances around financials, family and work travel requirements, I am leaving the practice at the end of the month to take another position in a hospital system in WA.

    The practice I am currently with ​​​​​​ does not include tail coverage unless I get fired without cause or leave with cause. They use COPIC and currently have $2/4m limits. What is your best advice to have tail insruance? is it to go through COPIC, or a specific broker? and what limits would be best? Is it the $2/4 or I have heard of $1/3.

    I assume indefinate coverage is the best route? It seems CO has a Statute of Limitations of 2 years, but can also be 3 under specific circumstances.Do the tail limits need to match the malpractice limits for some reason? What are the pros/cons of going with lower limits?

    Thank you so much

  • #2
    I hope others can add some insight to this topic. Would your new employer be willing to help out on the tail coverage?


    • #3
      I am sorry probably not very helpful but I was under the impression in CO judgements are limited to $1 million even including the so-called “economic damages”... is that accurate? If so I’m wondering why you would need $2 million per incident.


      • #4
        I went through this in another state, I chose a policy similar to my standard policy. Law suits typically try to hit the policy limit, and if you have a below standard limit policy you may have extra personal exposure. I would also assume that Vascular disasters are big disasters in regards to liability