My swallowed words.
Did your agent tell you about wind-down insurance? Mine didn't, but someone else I was comparing notes with about it did...
no, he didn't. Please, share more... what is this magical insurance of which you speak. I believe I'm covered for all prior claims under the firm's policy since my work was done under their auspices...Ideas?-bt
You don't need wind down with regard to your work under the old firm. It's that if/when you wind down your own practice you have to decide right away whether to buy a tail policy to cover any claims that might arise in the next six years thereafter. Which could be expensive. (Also, if he didn't mention, premiums will tend to rise steadily for the first six years of your firm, although at that point they might stabilize or even drop some.)
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