Tail insurance a problem in many areas

In various fields there is a problem with people who retire or close down their businesses with ‘tail insurance.’  The problem is that a liability issue can come up much later.  Much of the coverage that’s sold only covers suits that are later reported for injuries that occur during the policy period.  It’s hard or doctors or persons producing lasting products to get coverage for an injury that occurs after the policy expires but is  caused by an action that occured while the person was in business.

Gun insurance will have a similar problem.  If an owners insurance is to cover someone injured long after the gun was lost or stolen, it will have to cover a long tail.  A new structure of insurance will be needed.  But new structures of insurance are created all the time as the world faces new risks.  Good gun insurance will have to be designed with the help of the professional risk analysts.

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