Tail insurance covers which?

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Multiple Choice

Tail insurance covers which?

Explanation:
Tail insurance is an extended reporting period for a claims-made professional liability policy. It ensures that claims arising from work performed during the policy period can be reported after the policy ends. This is especially important for retirement, because a client might sue years later for issues on a project completed while you were insured. Tail coverage picks up those late claims, protecting the architect when practice continues to be exposed after retirement. It doesn’t cover current active projects (those are covered while the policy is active), nor does it protect personal assets, and it doesn’t address income tax liabilities.

Tail insurance is an extended reporting period for a claims-made professional liability policy. It ensures that claims arising from work performed during the policy period can be reported after the policy ends. This is especially important for retirement, because a client might sue years later for issues on a project completed while you were insured. Tail coverage picks up those late claims, protecting the architect when practice continues to be exposed after retirement.

It doesn’t cover current active projects (those are covered while the policy is active), nor does it protect personal assets, and it doesn’t address income tax liabilities.

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