J.M.Woodworth

Risk Retention Groups

How does an RRG work?

Risk Retention Groups are insurance companies owned by their policyholders. Physicians and surgeons who become shareholders in the Company own J. M. Woodworth. Independent insurance agents work with their doctor clients to qualify them for membership. Physicians and surgeons who become shareholders have access to stable, competitively priced insurance that is not subject to the vagaries of the traditional market and is not assessable by the Guaranty Fund.

What kinds of insurance can RRGs provide?

Risk Retention Groups are restricted by law to writing liability insurance.

Why are RRGs important to physicians and surgeons?

Without malpractice insurance, doctors can be wiped out in a single lawsuit. New York has experienced a crisis, brought on by fee-hungry trial lawyers, that caused traditional insurers to withdraw from the State.

What should an agent look for in a Risk Retention Group?

The agent should check the financials of the RRG to verify the company’s ability to pay claims. Other essential factors to consider include: senior management experience, loss ratio, risk management programs, reinsurance, and claims handling record.

What are the special features that make RRGs appealing to agents and their clients?

Availability of affordable coverage year in/year out… coverage tailored to your client’s specific needs… potential for profit as shareholders when company grows…improved cash flow…professional risk management…aggressive claims handling…quality reinsurance markets…voice in governance.

What's special about RRGs operated by Uni-Ter?

The outstanding success of RRGs managed by Uni-Ter is demonstrated by loss ratios under 40 percent nationally. Uni-Ter is one of the few management companies in the U.S. that provide virtual services including underwriting, risk management, claims handling, and general administration under one roof.

Who should consider joining J. M. Woodworth?

Physicians and surgeons committed to quality care, high standards of practice, an understanding of risk taking, and a clean record.

What does a doctor need to qualify?

Completed application including: practice history…previous insurance coverage…practice specialty…surgical procedures performed … credentials …board certification…hospital staff privileges…claims history to include five years’ loss history.

How can I get involved?

We’ll be glad to work with you to explain the benefits of becoming a shareholder in J. M. Woodworth RRG, Inc. Click here to obtain contact information for our appointed agents.