Med Mal Captives Target of New Partnership

AXIS Management Group, LLC, of Philadelphia, announced today a strategic partnership with New Jersey-based Medical Liability Resource Center, Inc. to develop self-insured medical malpractice captives for provider groups and other healthcare organizations.

Medical malpractice insurance is one of the highest cost items to most provider groups, the partners claim. Through captive programs, such as the ones developed through this alliance, medical malpractice costs reportedly can be reduced for most groups between 15 percent and 25 percent, while reducing the downside risk of excess losses by properly reinsuring the products with qualified reinsurers.

Mike W. Smith, president and CEO of AXIS Management Group, says, ``Our goal is to assist medical groups and healthcare companies in reducing costs and creating operational efficiencies." According to Jeffrey P. Tindall, vice president of marketing, ''We believe that by forming strategic partnerships with only the best firms in each sector of the healthcare industry, we can expand our services and provide greater value to our clients.``

AXIS provides full service consulting solutions to insurance companies, HMOs, provider-sponsored organizations (PSOs) and other managed care organizations. MLRC is a licensed insurance and reinsurance brokerage firm that specializes in providing alternatives for professional, general, and corporate liability exposures.