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Coverage Question Series – Part 33
Post on December 14th, 2018
This is a continuing series in which we address policy coverage questions that we routinely discuss with you and your colleagues. The answers provided are based on the basic policy form, currently LPLP-1s (effective for all policies new or renewed as of May 1, 2018). Refer to your specific policy and any endorsements attached thereto that may change coverage or the answers provided here.

I am retiring from the practice of law, am I covered?

Yes, if you obtain a “tail policy.” This question comes up a fair amount as attorneys consider retirement on leaving the private practice of law.


A “tail policy” is actually an “Extended Reporting Period” Endorsement that is added to the policy. Tails are fairly restrictive. They only serve to extend the period for reporting of claims; the underlying act, error or omission still must have occurred before or during the “Policy Period” of the underlying policy. Tails do not provide coverage for any “Claim” arising from acts, errors or omissions which occurred after the expiration or cancellation of the underlying policy.Therefore, if you are only partially retiring from the practice of law or are still wrapping up the practice, a “tail” is not for you.


OBLIC’s tails available for purchase, subject to the restrictions in the policy, extend the reporting period for 1 year, 2 years, 3 years, and unlimited years. With no statute of repose and the discovery rule applicable to legal malpractice claims, there is no easy answer to which length of time is best for you.

Pro-tip: If you are planning or considering leaving the private practice of law, contact us to discuss your options before you retire. We added a 100K/300K free tail option with policy form LPLP-1s (05-2018), effective for policies renewing on or after May 1, 2018, for those retiring insureds that have been with us at least five consecutive years.
As you should expect, these Q&A scenarios are based on simple hypotheticals. Coverage determinations for an actual claim are ultimately based on the unique facts, applicable law, and the Terms, Conditions, Limitations, Exclusions, and Endorsements of your policy.
Please contact me at [email protected] if you have any questions!
Carl Marsh, Esq.
Claims Counsel