With roughly 49% of Americans currently covered by employer-sponsored health insurance plans, and nearly two-thirds of those plans self-funded by employers, medical stop loss insurance has become an integral tool for businesses trying to manage costs without exposing themselves to unnecessary risk. As health care costs continue to rise and employers look for more ways to manage expenses, Nationwide is continuing to grow its strong medical stop loss insurance presence and capabilities, adding two new managing general underwriters (MGUs), Ethos and Maverick Health Solutions, to its roster in 2022.

Last month, Nationwide and Ethos, a $20 million stop loss MGU owned by CRC Group, entered into a partnership. CRC Group is an existing partner of Nationwide’s in the excess and surplus insurance space, as well as in financial services. As an MGU, Ethos will use their expertise to work as underwriters and serve as an extension of the Nationwide team.

“We are selective in the carriers we work with and choose strong, value-adding partners,” said Mike McDonald, president of Ethos Underwriting Services. “Ethos is looking forward to the additional opportunities that working with Nationwide will bring given its strong and stable position in the industry.”

Nationwide also entered into a partnership with Maverick Health Solutions, the first employee benefits stop loss MGU within Acrisure. Acrisure, one of the fastest growing brokerages in the financial services industry, is another existing key partner for Nationwide, serving as a national broker for personal and commercial lines insurance.

“The leading growth segment for self-funded health plans with medical stop loss is small to mid-sized employers, with only 20% of those employers currently self-funding today¹,” said Syed Rizvi, vice-president and chief specialty officer at Nationwide. “This is a target market for us, and these new MGU relationships provide additional access to the specialized producers that serve those businesses with proven, market-leading partners.”

Jeaneen Maglietto, Maverick Health Group vice-president of underwriting, added, “Nationwide’s specialty insurance team brings unrivaled knowledge to the growing and complex market through flexible solutions with personalized service, and we know that this partnership will be a positive for our customers.”

¹ KFF Employer Health Benefits Survey, 2022

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11/2022