A new medical malpractice insurance provider has opened its doors in Florida, flaunting that it generates savings for doctors by bypassing the traditional agent sales model.

Jacksonville-based MedMal Direct Insurance Co. says it is the first in Florida to provide medical malpractice insurance directly to the physician community in the state without using insurance agents or brokers. The company received its license from the Florida Office of Insurance Regulation last week.

“It’s very simple,”said Timothy R. Bone, the company’s president. “It’s better to be direct.”

The company said in a statemen that its direct-to-doctors approach enables physicians to save up to 20% on their medical professional liability insurance premiums.

“By using the direct-write distribution model, we are able to pass on the savings to the physician,” said Butler Ball, CEO of MedMal Direct, in a statement. “Because of the commoditized nature of the product, it is simply more efficient for the physician to purchase directly from the company.”

The company’s medical malpractice insurance product will have the same features and will provide the same coverage as those currently being offered in the market through the traditional brokerage system, the company said.

The four founders of the company include: Carter B. Bryan – Chairman of the Board, Butler Ball – Chief Executive Officer, Timothy R. Bone – President, and Michael J. Wallace – Chief Operating Officer and Chief Financial Officer. The founders have more than 100 years of combined experience in the insurance and financial services industry. The company’s experienced management team, its strong balance sheet and actuarially-sound and conservative underwriting philosophy will provide Florida’s physicians with the comfort and protection they need at a lower price.