Nationwide, SL Management Partners team up to offer medical stop loss insurance

Columbus, OH – Rising health care costs remain a financial concern as inflation continues to hammer businesses, with employers in the U.S. expecting medical plan costs per employee to rise 5.6 percent on average in 2023. As more businesses turn to self-funded employee healthcare plans to mitigate expenses, Nationwide and SL Management Partners will help them manage exposure to unexpected claims volume with a new partnership in the medical stop loss insurance space.

SL Management Partners will serve as a managing general underwriter (MGU) for Nationwide as the company continues to grow its strong medical stop loss insurance presence and capabilities. SL Management Partners, which recently took over American Fidelity Assurance Company’s direct stop loss division, will leverage its extensive underwriting expertise and serve as an extension of the Nationwide team.

“We couldn’t be more excited to introduce our customers and long-term production partners to Nationwide,” said Robert Lang, Managing Director at SL Management Partners. “We have been incredibly impressed with their professionalism, capabilities, and industry knowledge. Highly rated stop loss carriers with strong financials and the desire to grow their client base are incredibly important in the current environment.”

Syed Rizvi, vice-president and chief specialty officer at Nationwide, added, “new MGU relationships like those with SL Management provide additional access to the producers serving mid-sized employers that are increasingly adding self-funding and medical stop loss insurance. We are impressed with SLM’s experienced leadership team, their client-focused capabilities and their strong distribution partnerships.”

With more than 20 years of experience in the medical stop loss industry, Nationwide offers a full suite of solutions designed for businesses with between 10 and 5,000 employees. Solutions include traditional self-funding, level-funding, which combines the same flexibility and cost-savings as self-funded solutions with fixed monthly costs of a fully insured plan, and group captives, which provides pooled exposure with other mid-sized companies to help employers minimize risk.