Concert-Sponsored Medical Professional Liability RRG Gets A- Rating

A.M. Best has assigned an A- (Excellent) rating to Indigo Risk Retention Group, Inc. (Indigo RRG), a new insurance company sponsored by Concert Insurance Group.

Concert said the new risk retention group (RRG) will leverage data-driven expertise to underwrite policies for non-hospital-based physicians. A Concert statement said that as an RRG, Indigo RRG offers speed to market, flexibility, and the most efficient structure for underwriting medical professional liability insurance.

The new RRG received the A- rating from A.M. Best by virtue of being a member of Concert's rating unit, Concert said. As a rating unit member, Concert will provide Indigo RRG with initial capital as well as board oversight. In addition, a comprehensive reinsurance program is in place to support Indigo RRG, Concert said.

"From its inception, Concert's mission has been to establish innovative risk solutions as well as synergistic partnerships tailored to meet the needs of our clients," CEO John Hendrickson said in the statement. "Indigo RRG is a compelling example of delivering on our mission and of the productive relationship that we've established with Indigo's management team. It's also reflective of an exceptional effort by the Concert team to deliver a bespoke solution to a valued client."

Independent insurance company manager Strategic Risk Solutions (SRS) will provide regulatory management services to Indigo RRG.

"The opportunity to invest in Indigo's [RRG] came to us through SRS, one of Concert's founders, and is indicative of the manner in which we envisioned our relationship with SRS would lead to attractive business opportunities," Mr. Hendrickson said.