Lockton Companies announces it has signed a contract with Vizient Insurance Services, LLC, a subsidiary of Vizient, Inc., to offer property and casualty (P&C) insurance products and related insurance services for Vizient members. Vizient is the largest member-driven health care performance improvement company in the country. The new contract became effective July 1.
Under the terms of this agreement, Lockton Companies now offers Vizient member organizations and facilities a portfolio of carrier direct, “open broker” coverage programs. This includes hospital professional liability, cyber liability, executive liability, independent physician medical malpractice, worker’s compensation, auto and active shooter and child abduction, which are common insurance lines for health care organizations.
“We are absolutely thrilled to have Lockton Companies’ national health care expertise focused on developing programs that bring coverage enhancements that close gaps and deliver strong value for our members’ risk management teams,” said Mark Stenmark, senior director, insurance services at Vizient.
Lockton Companies will work with carrier partners to provide participating Vizient members with value-added education, services and tools to help them better manage risk and potential losses.
“The health care space continues to evolve rapidly, placing a premium on the development of new products and services,” said Vincent Gaffigan, director of strategic consulting at Lockton. “Lockton’s leadership in the industry provides us with the ability to help Vizient offer impactful P&C programs for its members.”
About Lockton
Lockton is a global professional services firm with 7,500 Associates who advise clients on protecting their people, property and reputations. Lockton has grown to become the world’s largest privately held, independent insurance broker by helping clients achieve their objectives. For 11 consecutive years, Business Insurance magazine has recognized Lockton as a “Best Place to Work in Insurance.”