Call Us Today For A Free Quote | 866.940.1101
Professionals Insuring Professionals

Changing of the Horse GuardFor years some professionals go without worrying about malpractice insurance coverage and the protection that comes with having their past acts covered.  But then there is a changing of the guard and the attorney or accountant calls because they need past acts protection.  Sometimes this because they are becoming a Judge, Prosecutor, or Public Official, etc. and never had insurance, but are now required to have their past acts covered before assuming their new duties.  Or they are trying to sell their practice and the buyer is requiring past acts coverage.  Also, for some they had E&O coverage and did not purchase an Extended Reporting Period Endorsement (ERP or Tail) allowing it to lapse and lose prior acts.

Whatever the reason it is sometimes possible to obtain malpractice protection with a “Run Off” policy.  This is a claims-made policy that does not cover any current work being done but only past acts.  Unlike an ERP there is no lump sum payment and it is generally only purchased on an annual basis.  Also getting this coverage is not guaranteed. 

These policies are carefully underwritten and can be expensive, starting at around $5000 per year per professional per $1 Million of coverage.  As these are normally offered by non-admitted surplus lines carriers, there will be additional taxes and fees added on.

Lee Norcross 
Contact Me Today
Lee Norcross, MBA, CPCU

Managing Director, CEO

(616) 940-1101 Ext. 7080 
Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2013
  • 2011

View Mobile Version
Quick Contact
We love referrals! And thank you even more for your continued business.
Customer Service
Self policy service any time of the day, directly from our website.
Join Our Newsletter
Stay in touch with the latest events, news and offers we have.
From Our Blog From Our Customers
Read More Read More
Facebook Twitter LinkedIn Google Maps
Stay In Touch With Us Helpful Site Links Contact Us
Sign up now to receive new and updates 5075 Cascade Rd. SE, Ste. E
Grand Rapids, MI 49546

Local: 616.940.1101
Toll Free: 866.940.1101
We have the expertise to find you the right coverage at the right price 
Powered by Insurance Website Builder