How I Helped a Surgical Ophthalmologist Find New Medical Liability Insurance Coverage in Georgia After His Malpractice Insurer Went Bankrupt

It’s six a.m., and the phone is already ringing. As I put down my coffee and pick-up the telephone, I hear a frantic voice on the other end that is too fast to understand. “Sir, sir,” I interjected, “please slow down as I can’t understand you.” The gentleman took a deep breath before saying, “Sorry, my name is Dr. Rodrigo Espinosa. I’ve been on vacation the last couple of weeks, and today I received notice that my insurance company has gone bankrupt. The policy ended three days ago, my practice manager quit yesterday and I have no idea where my insurance documents are. My specialty is Ophthalmology, which includes major surgery, and I’m working in Southeast Georgia.”

Unfortunately, these situations are all too commonplace for solo practicing physicians or small practices, no matter where they are located. Many times, these doctors work with medical malpractice insurance agents who are focused on larger clients and overlook their smaller solo physicians. Other times, these doctors are buying their medical liability insurance coverage direct from the insurance company and lack the true advocate an insurance agent can be. For Dr. Espinosa, it was the latter. He had been depending on his practice manager to purchase his medical liability insurance coverage directly from his insurer.

As the caffeine started to kick in, I was already formulating a plan of action for his medical liability insurance coverage. “Thank you for reaching out to us today,” I started. “First, let me just say we will find you coverage, but we’ll need to move quickly so we can close this gap in your coverage and pick up your prior acts history or nose coverage.” The concern here is his previous policy cancelled three days ago, which means not only is he currently uncovered, but all of his history (nose coverage) is exposed and uncovered as well.

Luckily for Dr. Espinosa, he ended up having no claims on his record and his medical license was in good standing. A claims-free record and medical license in good standing can go a long way in securing the best terms and premiums. I explained to him I would have the new rates shortly and will call him back to go over everything.

After about an hour the rates were ready and I was back on the phone with Dr. Espinosa, explaining the difference between the types of policies, claims-made and occurrence, and why the claims-made policies increase in premium over time. As I had suspected, Dr. Espinosa wasn’t aware of the differences or how the claims-made policy functioned.

Dr. Espinosa chose which company he wanted to proceed with and we began to complete his application for medical liability insurance coverage.

After another hour, we had the application and all supporting documents. I quickly submitted the application to the insurance company and requested they put a rush on it for us due to the time sensitivity of the situation.

Within 24 hours, we had our quote. Dr. Espinosa signed off in the morning and by the afternoon he had medical liability insurance coverage. Just another day in the life of a medical malpractice insurance account executive. 

Are you looking for medical liability insurance coverage in Georgia? Or any other state? Call 708-848-2300 and ask for David Leander and we’ll discuss all your options.

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