Risk Retention Groups Merge to Insure Long-Term Care Facilities and Nurses
| Copyright: | unknown |
| Source: | Market Wire |
| Wordcount: | unknown |
ATLANTA, GA -- (MARKET WIRE) -- 01/12/10 -- Lewis & Clark LTC RRG, Inc., the nationwide provider of liability insurance to long-term care facilities, has merged with Sophia Palmer Nurses RRG, Inc., Sanford Elsass, President of The Uni-Ter Group, administrator of both Risk Retention Groups (RRG), announced.
Sophia Palmer RRG was established in 2006 to provide nurses in Florida with professional liability coverage that was not available in the traditional insurance market. As a result of the merger, availability of coverage will be extended to nurses in 48 states served by Lewis & Clark.
"Sophia Palmer's successful experience in serving nurses, nurse practitioners, physicians' assistants, and allied healthcare professionals in Florida led us to extend coverage across the country through the merger with Lewis & Clark," Elsass said. "The Uni-Ter Companies will continue to underwrite, administer, risk manage, and handle Sophia Palmer claims, so rest assured you will still receive exceptional service and commitment," Elsass advised current policyholders.
The merger will permit nurses to keep their insurance when they move from state to state -- a major benefit not previously available. As an RRG, policyholders are shareholders. They own the company. Under the merger, nurses holding stock in Sophia Palmer will receive equivalent shares of Lewis & Clark.
Through the merger, coverage will be open to additional professional classes of allied healthcare providers and facilities. Existing policies will be converted to Lewis & Clark at renewal so medical practitioners covered by existing policies will not need to take any action.
The merger went into effect December 4, 2009 upon approval of both Boards of Directors.
Add to Digg Bookmark with del.icio.us Add to Newsvine
Media Contact: Mechlin Moore MDM Communications Office: 845-920-7081 Cell: 239-777-1595 Email Contact Underwriting Contacts: Dwain Chamberlain Vice President-Underwriting Office: 678-781-2415 Email Contact Lynda Knowles Director of Underwriting-Allied Healthcare Lines Office: 678-781-2381 Email Contact



Advisor News
- How smart investments prepare clients for inflation
- Amid slew of corporate tax ideas, Newsom chose one likely to hit people’s premiums
- The biggest risk to your clients’ financial plans isn’t market volatility
- Initiative looks at how caregiving impacts workplace benefits
- Will rising retirement needs spark an annuity boom?
More Advisor NewsAnnuity News
- Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
- Fortitude Re Completes $500 Million FABN Issuance
- Reframing retirement income for greater certainty
- Jackson Introduces Dow Jones Industrial Average Index Option, Flexible Premiums, Six-Year Rate Guarantee in Latest Registered Index-Linked Annuity Launch
- Senior Market Sales® Fortifies Annuity Reach With Acquisition of Retirement Planning Firm Stratton & Company
More Annuity NewsHealth/Employee Benefits News
- Politicians, consumers blast health insurers’ requests for double-digit rate hikes. What to know.
- Final rules for Medicaid work requirements are out. Here's what you need to know.
- Final rules for Medicaid work requirements are out. Here's what you need to know.
- Hyde-Smith blasts health care delays
- WNY health insurers seek rate hikes of 9% to 24% for 2027
More Health/Employee Benefits NewsLife Insurance News
- AM Best Affirms Issue Credit Ratings of Weston2038 LLC’s Credit-Linked Notes
- Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
- Greg Lindberg moves to halt $1.65B restitution order, claims he ‘overpaid’
- Fidelity Investments® to Expand Target Date Lineup With Launch of Guaranteed Income Solution
- KBRA Releases Research – Private Credit: Much Ado About Nothing – Perspectives on Columbia Business School Paper About Private Ratings
More Life Insurance News