Tail

{
  "id": "MLC-T-INS-003273",
  "term": "Tail",
  "field": "Insurance and risk management",
  "definition": "The period after a policy ends during which claims from events within the policy period are still being reported, developed, or paid. In a claims-made policy it means the extended reporting period, bought by endorsement for an additional premium, that lets a claim be reported after expiration if the wrongful act occurred after the retroactive date. In long-tail lines such as workers' compensation, it is the span of years of loss development that follows the policy period.",
  "subject": "Workers Compensation",
  "url": "https://mlchart.com/terminology/insurance/tail/"
}