Randall & Quilter Investment Holdings (R&Q) has issued $70 million of adverse development reinsurance covering medical profession liability and general liability risk for a US domiciled risk retention group (RRG).
The coverage was written by Accredited Surety and Casualty Company, a wholly owned subsidiary of R&Q, and protects the RRG from downside risk on their legacy insurance programme.
“This transaction adds to the continued development of exit solutions to risk retention groups within the US,” said Ken Randall, chairman and CEO of R&Q. “We are excited to expand our capabilities using Accredited Surety & Casualty to assist in solving various issues that arise on legacy liabilities for RRG’s, self-insurers, and corporates within the US.”
R&Q, Risk retention group, Medical, North America