On April 14, 2025, the Vermont Superior Court placed CARE Risk Retention Group, Inc. into rehabilitation due to hazardous financial conditions. All claims payments are paused, and policies will terminate within 90 days. MEDPLI, a leading malpractice insurance broker, is helping affected physicians quickly secure reliable replacement coverage. For assistance, visit www.medpli.com or call 1-800-969-1339.
CARBONDALE, Ill., May 13, 2025 /PRNewswire-PRWeb/ -- On April 14, 2025, CARE Risk Retention Group, Inc. ("CARE") was placed into rehabilitation by order of the Vermont Superior Court for Washington County, citing the company's hazardous financial condition. The Court has appointed the state's Insurance Commissioner as Rehabilitator, who is now tasked with stabilizing CARE and assessing its ability to meet policyholder obligations.
As part of the Order for Rehabilitation, all policy-level claims payments, including defense expenses, indemnity, and return premiums, have been paused. The Court has also approved a 90-day nationwide stay on litigation involving CARE policyholders, allowing physicians to arrange alternative coverage. All existing CARE policies are scheduled for termination no later than 90 days after written notice or once replacement coverage is confirmed.
CARE's liabilities currently exceed its assets, and it remains uncertain whether the company will be able to meet its insurance obligations in full.
MEDPLI, a leading independent medical malpractice insurance broker, is stepping in to help physicians affected by CARE's rehabilitation. MEDPLI specializes in securing competitive and reliable malpractice coverage from top-rated insurers, ensuring doctors remain protected without interruption.
"Our priority is to help physicians secure stable coverage fast," said Max Schloemann, founder and CEO of MEDPLI. "We're already working with affected doctors to replace their CARE policies and minimize exposure during this critical transition."
MEDPLI provides personalized service and works directly with "A" rated carriers to secure comprehensive malpractice insurance tailored to each physician's specialty, location, and practice needs.
Physicians insured through CARE should act immediately to secure replacement coverage to avoid gaps in protection and potential legal exposure. MEDPLI's team is available now to guide doctors through the process and ensure peace of mind during this period of uncertainty.
For more information or to get assistance replacing a CARE policy, visit www.medpli.com or call 1-800-969-1339.
Media Contact
MEDPLI Media Relations, MEDPLI, 1 800-969-1339, [email protected], https://medpli.com/
SOURCE MEDPLI
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