You don’t have to wait. In most cases, you can start the new policy while your old policy is still in effect, then cancel the old policy for a refund after the new policy is in place. Your effective date will change, but your retroactive date remains the same, ensuring no gaps in coverage. It’s recommended that a MEDPLI Insurance Broker assist you when you are considering switching companies. See “switching carriers mid-term.”
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About the Author: Max Schloemann
Max Schloemann is a medical malpractice insurance broker, focused on helping physicians and surgeons secure Medical Professional Liability coverage. Max graduated Magna cum Laude from Southern Illinois University College of Business and was named the Outstanding Management Senior. Max’s career in medical malpractice insurance began in 2008 with an industry-leading firm. Max founded MEDPLI in 2017 to help private practice physicians and doctors changing jobs navigate the complexities of medical malpractice insurance in the new era of healthcare. Max’s wife, Kristen, a Physician Assistant, and their 4 kids enjoy spending time outdoors and going to the kids' sporting activities. If you have a question about medical malpractice insurance for your practice, you can contact Max here.