It depends. Just because an insurer stops writing malpractice insurance does not invalidate the Extended Reporting Period Endorsement (Tail or ERP). The issued ERP remains in force from an admitted insurer.
As the years go an insurer may merge, sell, liquidated, or go completely out of business. Your insurance agent should be able to locate the proper entity to report a claim. If another insurer assumed your old insurer’s line of business that new insurer may have assumed your insurer’s obligations.
If the insurer was liquidated with no obvious successor your best resource is your state insurance commissioner. If the insurer was an admitted insurer the insurance commissioner’s office should be able to direct, you too who manages claims. As a last resort with an admitted insurer, your ERP obligations should still be honored under the guidelines of the state guarantee fund.
But if the ERP was issued by a liquidated non-admitted insurer or a Risk Retention Group, you may be out of luck. There likely will be no guarantee fund to fall back to. It is still worth checking with your state insurance commissioner to see if they can assist.
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Lee Norcross, MBA, CPCU
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