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Medical Malpractice Insurance Crisis Averted

03-06-2025 03:47 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: VAvita Pty. Ltd.

/ PR Agency: Vavita
Doctors were left unprotected when a major staffing company folded

Doctors were left unprotected when a major staffing company folded

Rocky River, Ohio - March 6, 2025 - A major medical staffing agency's sudden collapse left more than 1,200 medical professionals without malpractice insurance overnight, exposing them to catastrophic financial and legal risks. But with swift action by a broker, hundreds of providers secured crucial coverage just in time, preventing a ripple effect of lawsuits that could have shaken the industry.

For physicians and healthcare professionals, a stable malpractice insurance policy is essential. But when the staffing agency employing them folded, so did their coverage. As all policies were claims-made, any claim not filed before the cancellation of coverage was left uninsured.

As the reality set in, the affected providers faced a dire situation: any past patient interaction could suddenly result in a malpractice claim with no insurance protection. Without a solution, their personal finances, professional licenses, and careers were at risk.

Recognizing the urgency, Westwood Insurance Group (https://westwood.insure/) took immediate action:

- Direct Outreach: Westwood launched an aggressive information campaign-emails, texts, and phone calls-to alert affected providers of their exposure.
- Negotiating Tail Coverage: Westwood engaged with the original insurance carrier who offered an option for tail coverage, allowing providers to extend protection beyond the policy's termination date.
- Fast-Tracked Application Process: The insurance carrier streamlined applications to cut through red tape and expedite approvals.
- A Lifeline for Providers: Of the 1,200 medical professionals left uninsured, over 430 sought protection, and nearly half ultimately secured critical coverage.

Lawsuits began arriving for some providers. But their newly secured tail coverage ensured legal defense and financial protection. Without this intervention, the fallout could have been devastating-not just for individual providers, but for hospitals and patients relying on them.

"This wasn't just about insurance-it was about protecting careers, preventing lawsuits, and ensuring continuity of care," said Michael Richards, President of Westwood Insurance Group. "We saw the danger ahead and acted decisively. Our mission is to be more than just a provider of policies-we're a safety net for the medical professionals who serve our communities."

1250 Linda St, Rocky River,
OH 44116, United States
Michael Barker,
+1-855-351-7487

Westwood Insurance Group is a leading medical malpractice broker, providing professional liability and medical malpractice insurance. Through a team of dedicated commercial agents, we protect healthcare professionals with customized solutions and expert guidance. With decades of experience, Westwood stands at the forefront of the industry.

For more information, visit https://westwood.insure/

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