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Article: Risk group enters runoff: California clinics opt to convert from RRG to purchasing group. (risk retention group)
- Article from:
- Business Insurance
- Article date:
- April 28, 1997
- Author:
CopyrightCOPYRIGHT 1997 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NASHVILLE, Tenn. - Members of a risk retention group with dwindling premium volume expect that converting to a purchasing group will continue to offer them a viable risk financing alternative.
That is the hope of about 120 nonprofit, community medical clinics in California, which belonged to the Tennessee-based Clinic Mutual Insurance Co. Risk Retention Group.
While CMIC began a runoff April 1, nearly all its former clinic members joined the newly organized Clinic Purchase Group Inc. in Tennessee, whose members are insured by NORCAL Mutual Insurance Co. of San Francisco.
The transition was prompted primarily by a federal law change that reduced the ...