I’m not sure I fully understand the decision of the VA Receiver. The 3 TN RRG companies (DIR, ANLIR, TRA)all ceeded 100% their premiums to ROA. It was because ROA was placed in receivership these 3 companies had to stop writing business. These companies were forced into receivership because of the underhanded dealings of ROA.
Over 300 employees lost their jobs because a few executives got greedy. Two are now in prison but there are others who should be held accountable – Bill Crews and Judy Kelley are two of them.
The AIG/Gen Re trail was an off shoot from the ROA investigation. I find it funny the Gen Re executives were found guilty in that case, but the receiver and other law enforcement officers here in Virginia can’t seem to make a case against them.
That’s the risk you run when you are insured with a risk retention group. Those insrued with rrgs don’t have the same protections as those insured by an admitted carrier. I’m not sure I understand why you don’t understand.
Interesting. When did Judy figure that out? She had the VPs of Claims telling all of our insureds that they were protected by the Fund – but they weren’t. As you correctly stated when you’re with an RRG, your are SOL. It also means that you can do much more flying under the regulatory radar screen. Makes it easier to steal, redirect or misdirect funds, doesn’t it?
It helps when you have a board that pays absolutely no attention to what’s really going on, asks no tough questions and only wants to enjoy the free trips to nice places. Crews was the master politician. Too slick and too smart to leave anything incriminating behind.
Patterson is just a dumb ***. And if you don’t agree with me, my door is always open, but you might want to stop by HR on the way over and check on your 401K.
I’m not sure I fully understand the decision of the VA Receiver. The 3 TN RRG companies (DIR, ANLIR, TRA)all ceeded 100% their premiums to ROA. It was because ROA was placed in receivership these 3 companies had to stop writing business. These companies were forced into receivership because of the underhanded dealings of ROA.
Over 300 employees lost their jobs because a few executives got greedy. Two are now in prison but there are others who should be held accountable – Bill Crews and Judy Kelley are two of them.
The AIG/Gen Re trail was an off shoot from the ROA investigation. I find it funny the Gen Re executives were found guilty in that case, but the receiver and other law enforcement officers here in Virginia can’t seem to make a case against them.
Justice still needs to be served.
That’s the risk you run when you are insured with a risk retention group. Those insrued with rrgs don’t have the same protections as those insured by an admitted carrier. I’m not sure I understand why you don’t understand.
Didn’t Judy teach you about RRGs?
Interesting. When did Judy figure that out? She had the VPs of Claims telling all of our insureds that they were protected by the Fund – but they weren’t. As you correctly stated when you’re with an RRG, your are SOL. It also means that you can do much more flying under the regulatory radar screen. Makes it easier to steal, redirect or misdirect funds, doesn’t it?
It helps when you have a board that pays absolutely no attention to what’s really going on, asks no tough questions and only wants to enjoy the free trips to nice places. Crews was the master politician. Too slick and too smart to leave anything incriminating behind.
Patterson is just a dumb ***. And if you don’t agree with me, my door is always open, but you might want to stop by HR on the way over and check on your 401K.