COLUMBUS, Ohio, Nov. 26, 2013 /PRNewswire/ -- Mental Health Risk Retention Group, Inc. 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. Mental Health Risk Retention Group, Inc. was one of only seven risk retention groups to earn a 2013 STAR award.
(Logo: http://photos.prnewswire.com/prnh/20120123/MM39893LOGO )
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, Mental Health Risk Retention Group, Inc. 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 Mental Health Risk Retention Group, Inc.
In 1987, two major national associations - Mental Health Corporations of America and National Council for Behavioral Health - joined forces to create an innovative insurance option for community behavioral health, the Mental Health Risk Retention Group. The Mental Health Risk Retention Group specializes in providing liability insurance for the behavioral healthcare field. They are endorsed by the National Council for Behavioral Health and the Mental Health Corporations of America, two associations representing community mental health centers nationally. The Mental Health Risk Retention Group, a liability insurance company owned by its policyholders, offers stabilized premiums, protection against arbitrary cancellation, quality coverage, and a loss prevention program. Available coverages include professional liability, general liability, directors and officers liability.
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.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article