Captive Alternatives (CapAlt), an insurance and captives consultancy, has entered into an agreement with MediGroup Physician Services that will see the latter sponsor services from CapAlt to its members for establishment and administration of captive insurance companies.
“With the growing popularity of captives, MediGroup has determined that it should include the offering of a captive program as part of its mission to provide leadership and education to its members,” said Andy Klearman, founder and CEO of MediGroup.
“Such services will enable physician members and MediGroup to further their mission to promote the science and art of medicine, the care and well-being of patients, the protection of the public health and the betterment of the medical profession.”
Captive services are offered by CapAlt using its “Protected Captive” business model. The agreement will provide an opportunity for qualifying individual MediGroup members, as well as MediGroup member organisations such as group practices and individual doctors to adopt the same benefits currently enjoyed by most Fortune 500 companies, CapAlt added.
Mark Jacobs, CEO and founder of CapAlt, said: “Setting up a captive insurance company can involve layers of complexity and the learning curve is often so steep that it deters qualified applicants.”
Jacobs added: “We anticipate that the ability to establish a Protected Captive quickly is going to be very beneficial for MediGroup members and look forward to working with MediGroup Physician Services to extend the benefits of a Protected Captive to their members and related associations.”
Captive Alternatives, MediGroup, Agreement, Consultancy, Mark Jacobs, Andy Klearman