TITLE

Pennsylvania funds RRG

AUTHOR(S)
Geisel, Jerry
PUB. DATE
April 2003
SOURCE
Business Insurance;4/21/2003, Vol. 37 Issue 16, p3
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
Another state is giving long-term care facilities the financial support needed to launch their own captive insurance company. Pelican Insurance, a Reciprocal Risk Retention Group, licensed in March 2003 in Vermont, will provide LTC facilities in Pennsylvania with general and professional liability coverage. Pelican was launched with a five million dollar grant from the commonwealth of Pennsylvania, making it the first risk retention group to be started with state funds that do not have to be repaid. Pelican will offer general liability coverage of one million dollars per claim/one million dollars annual aggregate and professional liability coverage of 500,000 dollars per claim/1.5 million dollars annual aggregate. Rates are expected to be in the range of 470 dollars per bed.
ACCESSION #
9742687

 

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