SL Management Partners Announces Agreement to Represent Coverys Medical Stop Loss Insurance
Boston, MA ? December 1, 2023
SL Management Partners, one of the largest privately held program management companies serving the over $30 billion medical stop loss market, is pleased to announce they will begin representing Coverys* employer stop loss insurance beginning January 1, 2024.
The agreement will allow SL Management Partners to offer employer stop loss clients customized coverage through Coverys underwriting company ProSelect Insurance Company (ProSelect)**, with policies based on their unique risk tolerance and coverage requirements. Combining the full-service program management capabilities of SL Management Partners with the seasoned, well-versed healthcare team at Coverys will allow us to offer the market a powerful new data-driven stop loss alternative.
Coverys companies are licensed to do business in all 50 states and will be offered to all current and prospective SL Management stop loss producers.
Chris Coulter, Senior Vice President, Actuary, at Coverys, expressed his confidence in the relationship with SL Management Partners, a leading MGU in the medical stop loss market. He said, "Coverys is dedicated to providing self-funded employer groups with customized and flexible medical stop loss plans. We are selective about our MGU partners, but SL Management Partners impressed us with their underwriting expertise and experience in the medical stop loss field. We are excited to grow our business with SL Management Partners."
Bob Lang, Managing Director, SL Management Partners, added, “We are thrilled at the opportunity to work with Coverys and help them expand their medical stop loss business nationally. Coverys provides a flexible, customizable stop loss product, and their customer-centered underwriting approach and philosophy is aligned with our own. Combining the resources and expertise of both of our organizations provides us with an exceptional opportunity to expand our offering of innovative solutions and unrivaled customer service to our policyholders and producer partners.”
About Coverys:
With over $4 billion in assets, Coverys is a national leader providing specialized insurance coverage in the healthcare marketplace for over 45 years. Coverys underwriting company ProSelect, is rated A (Excellent) by AM Best, providing financial strength and peace of mind for policyholders. The Coverys employer stop loss team takes a holistic approach in serving self-funded employer groups and in its underwriting methodology. Coverys supports employer self-funded health plans with customized coverage and policy options to best match the employer’s health plan coverage and risk tolerance. Insurance products are issued by ProSelect Insurance Company, a Coverys company.
About SL Management Partners:
Located in Beverly, MA, SL Management Partners (SLMP) is a full-service program management company formed in 2023 by industry leaders Steve Solomon and Bob Lang. This team has served the self-funded community for over 30 years as both direct writers and program managers. The experienced SLMP team
provides an unmatched level of responsiveness. Our underwriters are educated in managed care principles, including network assessments and plan design techniques to help employers control their healthcare costs, while securing competitive stop loss pricing. Claims, administration, and risk management are deliberately woven into the underwriting process with the goal of delivering superior service and results for our customers.
* Coverys is the brand name of insurer Medical Professional Mutual Insurance Company (MPMIC) and its subsidiaries. For information regarding MPMIC and its subsidiaries, please visit www.coverys.com. Products may not be available in all locations.
**In California, ProSelect Insurance Company conducts business as Coverys Insurance Company."