R&Q hails latest workers' comp deductible reimbursement deal

Accredited Surety and Casualty, a US admitted insurer owned by Randall & Quilter Investment Holdings (R&Q), has completed a deal that frees a large US manufacturer from its workers' compensation liabilities in a deal that R&Q has hailed as evidence of its strength in the US legacy market.

The only details of the deal revealed are that Accredited has written a deductible reimbursement policy to a large US manufacturer covering all of its outstanding and future claims arising from the deductibles on workers' compensation legacy policies written between 1996 and 2015.

The estimated undiscounted liabilities assumed are circa $14.1 million.

Ken Randall, chief executive of R&Q, said: “We are delighted to write this deductible reimbursement policy to a well-known US manufacturer, looking to find an exit solution for its balance sheet legacy workers' compensation liabilities. This transaction is further proof of our continuing success and product expansion in the US legacy market.”