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What is retroactive cover and why do I need it?

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What is retroactive cover and why do I need it?

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Retroactive cover provides you with medical indemnity insurance for claims that are first made against you and notified to us in writing during the Policy Period and which arise from circumstances that occurred before the Policy Period commenced. The Retroactive Date represents the earliest date on which a circumstance giving rise to a covered claim could have occured. If you are moving from another insurer, where you were covered on a claims made basis, MIGA can provide you with retroactive cover for your prior practice. This means you will be covered for what is often referred to as your “tail”. It is extremely important to consider whether you require retroactive cover or whether there are any gaps in your existing retroactive cover as you may be personally liable for any claim if an incident occurred during a period for which you were not adequately covered. As a guide, you may require retroactive cover if any of the following circumstances apply: • Your claims incurred membership

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