This month marks the fifth anniversary and sixth policy period for member-owned mutual insurance company Continuing Care Risk Retention Group, Inc. (CCRRG).
In the past five years CCRRG has grown to more than 100 continuing care facilities in fourteen states (AZ, CA, CO, IA, ID, IL, IN, KS, MD, MI, MO, NC, TX, & VT). Based on a common anniversary date of January 1, CCRRG is near completion of its sixth policy period posting financial ratios that are better than nearly all competitors in either alternative or traditional markets. "Inspecting what you expect is one of the reasons CCRRG continues to grow in this soft market," says Nick Addleman, CFO for Magnolia LTC Management Services, Inc. "We are truly proud to the program managers for this incredibly strong company."
CCRRG has just received renewal of its "A, Exceptional" rating from Demotech and is currently accepting applications for its seventh policy period, commencing 1/1/09.
About CCRRG
CCRRG is the first nationwide RRG liability carrier designed specifically for the needs of independent owner/operators of long term care facilities. CCRRG is licensed as a mutual, industrial insured captive insurance company by the South Carolina Department of Insurance. Formed pursuant to the federal Liability Risk Retention Act of 1986, as amended (LRRA), CCRRG is owned exclusively by its insured members to whom it offers a dynamic risk management based Professional & General Liability insurance program related to the operation of long term care facilities. The CCRRG policy has standard limits and is fully reinsured with multiple Lloyds of London reinsurers all rated "A-" or better.
CCRRG is administered by Magnolia LTC Management Services. More information can be found at www.magnolialtc.com or by calling (707) 571-7430.