Most providers are familiar with the dreaded “tail policy” which is a policy purchased for prior acts not covered by a policy going forward. A tail policy is required when a provider ends a claims-made policy and starts a new policy with a current effective date. The tail policy provides coverage for the acts prior to the new policy’s effective date. Another strategy that may be possible is to “nose-in” to a the new policy, which means that the new policy becomes retroactive–its effective date reflects the period of the prior acts–so that the provider doesn’t have to buy a tail. Nosing-in isn’t always an option, but it can be an effective way to maintain coverage and save money when it is an option. Read more here (Question #4).