MagMutual Creates New Captive for Physician Practices, Hospital Systems

MagMutual Insurance Co., a medical professional liability insurer in the Southeast, has formed OURCell Captive, P.C.C. A wholly owned subsidiary of MagMutual, OURCell Captive provides physician practices and hospital systems that desire to actively participate in the retention and management of their liability exposure with an alternative option for risk financing.

Neil Morrell, president and chief operating officer of MagMutual, says they created the captive in response to the frequent requests by healthcare providers that have sophisticated requirements and are looking for alternatives to more traditional forms of medical professional liability insurance coverage.

Atlanta-based MagMutual provides professional liability insurance to physicians and hospitals in the through its operations in ten Southeastern states. MagMutual is a healthcare provider-owned and managed mutual insurer.