10 Potential Time Bombs in Your Employment Contract

Leigh Page

Disclosures

October 22, 2015

In This Article

10. You Might Be Left Unprotected Against Malpractice Lawsuits

Many employers provide physicians with "claims made" malpractice insurance, which only covers claims filed while you're employed. You therefore need to have tail coverage, which protects you from claims filed after you leave.

Buying tail coverage for yourself is expensive, because it usually costs between 1.5 and two times your regular premium, Gertsberg says.

The good news, Gosfield says, is that usually the employment contract covers the cost of your tail insurance, but you should always check this. Sometimes the stipulation isn't there and you have to ask for it, but it's usually not a sticking point. "The employer agrees to provide it because they would be named in any lawsuit against you" and would have to defend the case anyway, Gosfield explains.

Hursh adds that the contract should guarantee tail coverage even if the employer has an occurrence policy. Although a tail isn't needed with such coverage, it's possible that the employer might shift to a claims-made policy after you're hired, he says.

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