Does ProQual offer tail coverage to its insureds when they terminate their claims made coverage?
A. Insureds may purchase Optional Extended Reporting Period, or “tail” coverage (“Tail Coverage”), when they terminate their claims-made policy. However, no additional premium will be charged for Tail Coverage to an insured (a) who dies or becomes permanently disabled during the Policy Period, or (b) who retires during the Policy Period, if as of the date of retirement the Insured Physician (i) is age 55 or more and has been continuously insured by the Company for at least 5 years immediately prior to the date of retirement, or (ii) is age 50 or more and has been continuously insured by the Company for at least 10 years immediately prior to the date of retirement. As used in this Condition, “retire” means the complete and permanent withdrawal from the practice of medicine; and “permanently disabled” means permanent inability to perform work or engage in the practice of medicine due to physical or mental injury or disease.
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