R&Q writes $70m adverse development cover

Randall & Quilter Investment Holdings (R&Q) has issued adverse development reinsurance covering medical professional liability and general liability risks providing $70 million of coverage to a US domiciled Risk Retention Group (RRG).

The coverage protects the RRG from downside risk on their legacy insurance programme and was written by R&Q’s subsidiary Accredited Surety and Casualty Company.

Ken Randall, R&Q CEO, explained: “This transaction adds to the continued development of exit solutions to risk retention groups within the US. We are excited to expand our capabilities using Accredited Surety and Casualty Company to assist in solving various issues that arise on legacy liabilities for RRG’s, self-insurers, and corporates within the US.”

Accredited is licensed in all fifty US states to write admitted business.

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