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MGIS and Sun Life Financial Launch an Industry First: A Malpractice Insurance Reimbursement Rider for Physicians With Long-Term Disabilities

June 8, 2011 - Salt Lake City, UT

MGIS, a leading nationwide provider of specialized insurance products for physician groups, and Sun Life Financial, one of the largest and highest-rated insurance companies in North America, today announced the introduction of the Malpractice Insurance Reimbursement Rider -- a first in the industry. This optional rider offers reimbursement of malpractice insurance payments to eligible MGIS/Sun Life physician group Long-Term Disability (LTD) customers while they are out on disability.

The new rider pays for both Extended Reporting Period (ERP) protection and ongoing malpractice coverage. For eligible physicians on disability, up to $25,000 of the actual malpractice insurance payments made -- including payments for ERP coverage -- during the first 12 months of disability may be reimbursed. Other benefits include flexible payment options, higher maximums and longer durations are available upon request, and maximum benefits in increments of $5,000. Pricing for the new rider is dependent upon demographics and plan design.

As an innovator in the group benefits space for more than 40 years, MGIS recognizes the additional financial pressures that physicians face while disabled. "Physicians pay on average $15,000 per year for malpractice insurance. Because they must carry this coverage as a necessary business expense while disabled, this rider will provide significant help during difficult times," notes Jeff Brunken, President, The MGIS Companies, Inc. "We are pleased to offer this innovative solution that protects income and provides real peace of mind."

Together, MGIS and Sun Life design and administer disability programs specialized for physicians. With a full range of specialized group products for physicians and their practices -- including Physician Group LTD, Short-Term Disability, Life and AD&D -- MGIS and Sun Life offer the strongest policies available to physicians.

About MGIS Medical Group Insurance Services, Inc. (MGIS) is a wholly owned subsidiary of The MGIS Companies, whose operating companies provide specialized Group Disability Insurance, Medical-Professional Liability Insurance, and practice improvement ancillary products and services exclusively for physicians. The MGIS Group Disability policies are backed by Sun Life Financial. The MGIS medical-professional liability insurance policies are backed by Freedom Specialty Insurance Company, a Nationwide® Company, rated A+ (Superior) by A.M. Best. With a rich tradition of service excellence, MGIS works hand in hand with local brokers and benefit advisors and has served more than 8,000 physician groups, 800,000 group members, and 135,000 physicians nationwide since 1969.

About Sun Life Financial Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda.

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To learn more, please contact:
Joe Sadowy
MGIS Vice President of Sales and Marketing
1-800-969-6447 (extension 184)
Email Contact


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