ECN Electrical Forum - Discussion Forums for Electricians, Inspectors and Related Professionals
ECN Shout Chat
Shout Box
Recent Posts
Air Compressor feeder conductor sizing
by Potseal. 01/15/18 09:08 PM
VDE 0100 to introduce AFCIs
by LongRunner. 01/15/18 11:38 AM
Under carpet cable?
by HotLine1. 01/15/18 09:57 AM
Any New Years Resolutions?
by Bill Addiss. 01/13/18 10:21 AM
New in the Gallery:
Housebilding DIY wiring
SE cable question
Who's Online Now
0 registered members (), 25 guests, and 8 spiders.
Key: Admin, Global Mod, Mod
Previous Thread
Next Thread
Print Thread
Rate Thread
Tail insurance #209448
04/01/13 06:13 PM
04/01/13 06:13 PM
A
ayrton  Offline OP
Member
Joined: Dec 2001
Posts: 201
Pa
Has anyone here ever had a Tail policy for Acts or Ommissions after closing up shop?

Business, Office, Estimating, Legal:
Re: Tail insurance [Re: ayrton] #209449
04/01/13 06:39 PM
04/01/13 06:39 PM
HotLine1  Offline

Member
Joined: Apr 2002
Posts: 6,916
Brick, NJ USA
Can't say I ever heard of that type of policy.


John
Re: Tail insurance [Re: HotLine1] #209450
04/01/13 07:31 PM
04/01/13 07:31 PM
A
ayrton  Offline OP
Member
Joined: Dec 2001
Posts: 201
Pa
It is a policy used when a business goes out of business and pays insurance for 'acts and ommissions" (work done) while in business. It is to protect against a claim if it arises in the time between when you close your doors and cease to exist as a business to when the statute of limitations runs out. Was just wondering if anyone here has experienced this.

Re: Tail insurance [Re: ayrton] #209451
04/01/13 08:15 PM
04/01/13 08:15 PM
HotLine1  Offline

Member
Joined: Apr 2002
Posts: 6,916
Brick, NJ USA
I was under the impression based on info from my insurance agent that the policies in force when the business was active was all that was required.

Think about it, you have coverage until you cancel the policies, and that covers what you did up until you cancel the policy, so why would you need any further coverage??

Talk to your agent.


John
Re: Tail insurance [Re: ayrton] #209452
04/01/13 08:23 PM
04/01/13 08:23 PM
T
Tesla  Offline
Member
Joined: Jun 2004
Posts: 1,273
Sacramento, CA
http://www.answers.com/topic/tail-coverage

It's purchased if and when the policy covered claims on a "When Made" basis.

It's far more common among professionals: doctors, architects, engineers, etc.



Tesla
Re: Tail insurance [Re: Tesla] #209453
04/02/13 02:40 AM
04/02/13 02:40 AM
S
sparkyinak  Offline
Member
Joined: Jul 2007
Posts: 1,328
Alaska
Tail policy? Sounds like cover you as... butt...


"Live Awesome!" - Kevin Carosa
Re: Tail insurance [Re: ayrton] #209456
04/02/13 07:10 PM
04/02/13 07:10 PM
T
Tesla  Offline
Member
Joined: Jun 2004
Posts: 1,273
Sacramento, CA
The double meaning must have been obvious to the sales crew from the outset.

Cute.


Tesla
Re: Tail insurance [Re: Tesla] #209464
04/03/13 08:11 PM
04/03/13 08:11 PM
S
sparky  Offline
Member
Joined: Oct 2000
Posts: 5,340
When i saw the thread title i thought seriously how my woman is always claiming i'm a dog trapped in a mans body actually has some credibility....~S~


Featured:

2017 Master Electrician Exam Preparation Combos
2017 NEC Electrician
Exam Prep Combos:
Master / Journeyman

 

Member Spotlight
HCE727
HCE727
Delaware County, PA, USA
Posts: 186
Joined: November 2005
Show All Member Profiles 
Top Posters(30 Days)
sparky 23
Admin 19
Potseal 13
Popular Topics(Views)
243,513 Are you busy
180,304 Re: Forum
170,802 Need opinion
Powered by UBB.threads™ PHP Forum Software 7.6.1
(Release build 20180101)
Page Time: 0.021s Queries: 15 (0.004s) Memory: 0.9917 MB (Peak: 1.1588 MB) Zlib enabled. Server Time: 2018-01-16 21:22:54 UTC