COLUMBUS, Ohio, Nov. 26, 2013 /PRNewswire/ -- Community Hospital Alternative for Risk Transfer, Reciprocal RRG has been awarded a 2013 Stakeholder Team Accomplishment Recognition™ (STAR) award from Demotech, Inc. for its operating results in 2012, as verified in its June 30, 2013 statutory quarterly statement. A total of 2,736 Property and Casualty carriers were reviewed, with only 44, or 1.6 percent, meeting each of Demotech's objective criteria. Community Hospital Alternative for Risk Transfer, Reciprocal RRG was one of only seven risk retention groups to earn a 2013 STAR award.
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Demotech developed Stakeholder Team Accomplishment Recognition™ to identify and recognize insurers that were able to satisfy all stakeholders, not just a single segment of interested parties. To earn a 2013 STAR Award, Community Hospital Alternative for Risk Transfer, Reciprocal RRG had to demonstrate that:
- employees and producers benefited from a combined compensation level above the median within the Company's Classification System category
- claimants benefited as measured by an accident year 2012 loss and loss adjustment expense ratio above the median within the Company's Classification System category
- regulators and consumers benefited from a strong balance sheet and relative financial stability
- reinsurers benefited due to the relative stability between the Company's net and ceded loss and loss adjustment expense ratios
- overall profitability was in the top third of its Company Classification System category based upon return on net admitted assets
- June 30, 2013 operating results confirmed that the reported year-end 2012 results were realistic and reasonable, particularly as to the verification of our loss and loss adjustment expense reserve criterion.
About Community Hospital Alternative for Risk Transfer, Reciprocal RRG
Community Hospital Alternative for Risk Transfer (A Reciprocal Risk Retention Group) was organized under the laws of the State of Vermont on March 21, 2002. The Company was issued a Certificate of General Good by the Vermont Department of Financial Regulation on October 24, 2002, and a Certificate of Authority permitting it to transact the business of a captive insurance company on April 11, 2002. The Company provides Medical Malpractice and General liability coverage to health systems and their employed physicians in Pennsylvania, West Virginia and New York. In addition, the Company provides Medical Malpractice to individual physicians in Pennsylvania, West Virginia and New York.
About Demotech, Inc.
Demotech, Inc. is a financial analysis firm specializing in evaluating the financial stability of regional and specialty insurers. Since 1985, Demotech has served the insurance industry by assigning accurate, reliable and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurers and Title underwriters. FSRs are a leading indicator of financial stability, providing an objective baseline of the future solvency of an insurer, regardless of financial size. Visit www.demotech.com for more information.
SOURCE Demotech, Inc.
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