COLUMBUS, Ohio, Jan. 15, 2020 /PRNewswire/ -- Demotech has assigned a Financial Stability Rating® of A, Exceptional, to Future Care Risk Retention Group, Inc. Future Care is a provider of professional and general liability insurance to Long-Term Care facilities recently formed in accordance with the Vermont – Captive Insurance laws and the Product Liability Risk retention Act of 1981.
According to Joseph L. Petrelli, President, Demotech, "Although the role of the reinsurance community in property catastrophe reinsurance may have been adversely impacted by third party capital in the form of insurance linked securities and catastrophe bonds, the quality and quantity of reinsurance™ for independent, regional and specialty insurers focused on casualty insurance remains critically important. Future Care has secured a reinsurance program that is consistent with the execution of its business model. Equally important, it will be managed by an established team of credentialed insurance professionals."
According to Greg Cook, Founder & President of Future Care RRG, "At Future Care, our goal is to provide our clients the tools to help mitigate their potential liability by working together to come up with a comprehensive and personalized risk reduction plan. Focusing on this niche market with the combined expertise of a team of industry professionals, we are fully equipped to offer customized solutions to long term care facilities at competitive rates."
About Future Care Risk Retention Group, Inc.
In June of 2018, Greg Cook. Dr. Robert Pope and Dr. Daniel Hafendorfer set about to provide an innovative but deceptively simple business philosophy and worked to form an insurance company to serve long-term care facilities a viable alternative to skyrocketing insurance rates. They put together an exceptional team of underwriters, defense attorneys, claim handlers, reinsurance partners and brokerage partners and opened up business doors officially in 2019.
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. Demotech's philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. Visit www.demotech.com for more information.
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SOURCE Demotech, Inc.