Re/insurance broker Lockton Companies has entered into an agreement with a subsidiary of Vizient, Inc., Vizient Insurance Services, LLC to offer property and casualty (P&C) insurance solutions and services for Vizient members.
The contract became effective on July 1st, 2019 and under the terms of the agreement, Lockton now offers Vizient member organisations and facilities a portfolio of carrier direct, “open broker” coverage programs.
An announcement on the agreement states that this includes hospital professional liability, cyber liability, executive liability, independent physician medical malpractice, workers’ comp, auto and active shooter and child abduction, all of which are common lines of insurance for health care organisations.
Mark Stenmark, senior director, insurance services at Vizient, a member-driven health care performance improvement company, said: “We are absolutely thrilled to have Lockton Companies’ national health care expertise focused on developing programs that bring coverage enhancements that close gaps and deliver strong value for our members’ risk management teams.”
Vincent Gaffigan, director of strategic consulting at Lockton, added: “The health care space continues to evolve rapidly, placing a premium on the development of new products and service. Lockton’s leadership in the industry provides us with the ability to help Vizient offer impactful P&C programs for its members.”