Policy Structure
Tail Coverage
An informal name for an extended reporting period endorsement purchased when a claims-made policy is canceled or not renewed. Tail coverage allows the insured to report claims after the policy has ended for acts that occurred during the policy period. The cost typically ranges from 75 to 300 percent of the final annual premium depending on the reporting period length.
Related terms
Claims-Made PolicyA type of insurance policy that provides coverage only when a claim is first reported to the insurer...Prior Acts DateAlso called the retroactive date, this is the earliest date from which a claims-made policy will cov...Extended Reporting PeriodA provision in a claims-made policy that extends the time during which claims can be reported after ...