Premier Alliance Insurance Co., a liability insurer affiliated with Westchester, Ill.-based Premier Health Alliance, has put itself up for sale.
The firm said it's seeking a buyer because the malpractice insurance market has become too competitive.
Premier Health Alliance is an investor in the 8-year-old company, which sells liability insurance to about 2,000 physicians. The alliance also held a management contract to run the daily operations of the company.
The 31 Premier Health Alliance employees who worked for the insurer under the contract have been terminated, but the company expects to rehire 27 of those individuals.