With the distress in the investment banking industry and the looming credit crisis, the number of unemployed Americans has increased by 2.2 million over the past 12 months – increasing the number of uninsured persons in the process. AmWINS Group Benefits, a leading distributor of wholesale retiree and employee health benefits and professional services, now provides a cost-effective alternative to temporary major medical coverage, such as COBRA, where the cost may be beyond the means of many.

Responding to growing unemployment and the prospect of increased dislocation, AmWINS Group Benefits announced an expansion of its niche medical health plan offerings today with the launch of AmWINS BridgeCare. The product provides immediate short-term medical coverage for the newly unemployed and others experiencing a lapse in coverage.

“The credit crisis is taking jobs and it’s taking people’s health insurance,” said Sam Fleet, AmWINS Group Benefits President and CEO. “And more employers are cutting expenses by extending waiting periods for insurance to kick in from 30 to 90 days, leaving even more Americans in health coverage limbo,” Fleet added.

AmWINS BridgeCare is underwritten by Companion Life and administered by AmWINS Group Benefits, allowing individuals, businesses and brokers to leverage state-of-the-art administration and online enrollment services. Applicants can quickly apply online and have coverage issued as early as the next day.

AmWINS BridgeCare medical coverage includes:

• $2 million lifetime maximum coverage
• In-hospital and out-patient benefits
• Urgent care services
• Surgery in a hospital or ambulatory surgical center
• Intensive care
• X-ray and laboratory services
• Ambulance services
• 10 day “Free Look” period
• Generic prescription discount card

Short-term medical does not cover all medical conditions including pre-existing conditions. Among the disqualifying conditions are cancer, pregnancy and heart disease.