In Vermont risk retention groups insure all forms of risk, from risks facing colleges and
universities, to risks facing primary care doctors and specialists.
In the Green Mountains, risk retention groups large and
small protect markets from risks of all kinds. Here is a
sample of the variety of risk retention groups seeking
advantages provided by Vermont.
United Educators
Why was it formed? Universities, colleges and schools
sought to fill a gap left by traditional insurance, to provide
stable pricing, clear policy language, broad coverage, and
tailored claims and loss-control services.
When was it formed? 1987
How big is it? United Educators insures more than 1,200
schools, colleges and universities. Its gross premiums in
2011 totaled $137 million.
What coverages does it offer? Primary general
liability, excess general liability, educators’ legal
liability, other miscellaneous liability, school
board legal liability and auto excess liability.
When was it formed? 1987
How big is it? OMIC covers more than 4,400
ophthalmologists in the United States, with $41 million in
premium written.
What coverages does it offer? Medical professional liability
Housing Authority Risk Retention Group
Why was it formed? The public housing community faced
a crisis in the mid-1980s. Insurance companies were
reluctant to provide coverage. Over time, the company
evolved from a single risk retention group into a group of 10
companies that provide a full line of coverage and related
services under the umbrella organization, Housing Authority
Insurance Group.
Indiana Risk Retention Group
Why was it formed? It addressed a hard market
and limited availability for medical-malpractice
insurance, allowing hospitals to have more say
in their insurance purchase, risk management
and claims-handling.
When was it formed? 2003
How big is it? It insures eight community
hospitals in Indiana with a premium base of
$5 million.
What coverages does it offer? Medical
malpractice, professional liability and general
liability.
American Land Title Insurance Co.
Why was it formed? In the mid-1980s, title insurance
agents could not find errors and omissions coverage.
The traditional market then wouldn’t participate in a
program put together by their trade association.
When was it formed? 1988
How big is it? American Land Title has about 2,000
members and writes $7.5 million in premium.
What coverages does it offer? Errors & omissions for
title insurance agents.
Ophthalmic Mutual Insurance Co.
Why was it formed? About 400 ophthalmologists received
notice of their policy cancellation and approached the
American Academy of Ophthalmology to address the issue
sought alternative solutions.
When was it formed? 1987
How big is it? It provides insurance in the 48 contiguous
states and the District of Columbia. It generates nearly $35
million in premiums, has more than 800 member housing
authorities, and insures more than 750,000 family and
senior units and provides contingent liability insurance on
over 500,000 Section 8 units.
What coverages does it offer? Housing Authority Risk
Retention Group offers general liability written on an
occurrence form. In addition, it offers public officials
errors and omissions liability, law enforcement liability;
employment practices liability insurance; public officials
liability; mold; lead liability; and lead-based paint liability
insurance on a claims-made basis. Coverage is also
available for primary nonowned and hired auto liability, and
auto liability.
—Compiled by Matthew Brodsky
