Ohio Places The Physicians Assurance Corporation Into Liquidation

August 19, 2009

Ohio Department of Insurance has placed The Physicians Assurance Corporation (TPAC) into liquidation. The liquidation order, which was filed Aug. 18, 2009, allows the department to take possession of the insurer’s assets and administer them under the general supervision of the court.

TPAC insurance contracts are currently still in-force, provided premiums are paid. Pursuant to the court order, contracted providers must continue to provide authorized or covered services for the contract period.

TPAC was licensed by the department to write health insurance on Feb. 1, 2008. TPAC covers approximately 300 groups, which include approximately 8,000 members in central Ohio.

Individuals and businesses that are currently insured through TPAC are encouraged to call their broker or agent to find new coverage.

Consumers who have questions about the order or whose providers are refusing services are asked to call the Department at 1-800-686-1526 or the Office of the Ohio Insurance Liquidator at 614-487-9200.

More information on TPAC’s rehabilitation can be found on the Department’s Web site www.insurance.ohio.gov, and the Office of the Ohio Insurance Liquidator’s Web site www.ohliq.com. General information on the Ohio Life & Health Insurance Guaranty Association (OLHIGA) can be found at www.olhiga.org.

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