The MGIS Companies, a Salt Lake City-based provider of physician insurance products, said it has sold its medical liability insurance brokerage unit, MGIS P&C.
The business unit’s accounts and in-force policies were purchased by two separate buyers, Doctors First Inc. and Hub International Limited.
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"We have been seeking to acquire a brokerage with a strong background in serving the insurance and risk management needs of physician groups, and MGIS was a great fit for Hub," said Kirk Christ, president of the Chicago-based Hub International.
Betty Mangery, a spokeswoman for Doctors First, an insurance firm that caters specifically to the medical field and specializes in professional liability coverage, said that acquisition will enhance that company’s retail operation and help grow its product lines.
MGIS President Jeffrey Brunken said under the new owners, "Policyholders will continue to have access to the best insurance products, brought to them by experienced brokers backed by the high-touch service and ease of doing business that have been the MGIS trademark for over 40 years."
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