Without tail malpractice coverage, doctors formerly contracted by American Physicians Partners (APP) can be exposed to an unexpected lawsuit if a former patient files a malpractice claim against them. A MEDPLI advisor can offer physicians affected by the APP bankruptcy multiple options for tail malpractice insurance from "A" rated carriers.
CARBONDALE, Ill., Nov. 30, 2023 /PRNewswire-PRWeb/ -- MEDPLI, a leading independent medical malpractice insurance broker, is reaching out to help doctors formerly contracted by American Physicians Partners (APP) to obtain tail malpractice insurance. The Tennessee-based hospital staffing firm announced its closure in July 2023. APP later filed for Chapter 11 bankruptcy in October and plans to liquidate. As a result, APP will no longer honor its contract to provide the firm's over 2,500 physicians with tail malpractice insurance.
"Without tail malpractice coverage, these 2,500 physicians will be exposed to a lawsuit and risk potentially heavy personal financial loss if a former patient files a malpractice claim against them for an incident that occurred while they were under contract with APP," says Max Schloemann, CEO of MEDPI. "Our independent MEDPLI advisors have deep experience and knowledge of medical malpractice insurance trends and carriers to help these physicians prepare themselves now for any unexpected prior acts claims with a strong tail coverage policy."
A medical staffing firm typically provides its newly contracted doctors with medical malpractice insurance, but that coverage ends on the last day of employment, or termination of the doctor's contract. However, a staffing firm will usually make provisions for a tail policy in the contract terms. But in APP's bankruptcy's case, doctors are left scrambling to secure their own tail malpractice insurance to cover them retroactively from their first day of employment with the staffing firm.
MEDPLI's CEO Max Schloemann also noted that a new employer's medical malpractice insurance policy will not cover a physician for prior acts that occurred while working for APP. Thus, standalone tail malpractice coverage is the only way to protect against personal financial loss if sued.
"As an independent medical malpractice insurance broker, MEDPLI can offer physicians affected by the American Physicians Partners bankruptcy multiple options for tail malpractice insurance from "A" rated carriers," Schloemann says. "The volume of medical malpractice lawsuits in the U.S. shows no sign of decreasing, so we encourage physicians to speak with a MEDPLI advisor about securing strong tail malpractice coverage for their specialty as soon as possible." Not all physicians will qualify for standalone tail coverage.
Physicians who have lost tail malpractice insurance due to the American Physicians Partners bankruptcy can contact a MEDPLI medical malpractice advisor online at www.medpli.com or call 1-800-969-1339 for a quote.
About MEDPLI
MEDPLI is an independent insurance practice specializing in medical professional liability insurance. Through our A-rated insurance partners, we provide insurance solutions to doctors and healthcare providers in the United States. Visit www.medpli.com to learn more.
Media Contact
Max Schloemann, MEDPLI, 1 800-969-1339, [email protected], https://medpli.com/
SOURCE MEDPLI
Share this article