20/01/2010
Two Nevada-domiciled healthcare-related risk retention groups (RRGs) managed by The Uni-Ter Group have merged in a deal approved in December by the boards of both companies.
Lewis & Clark LTC RRG has merged with Sophia Palmer Nurses RRG in a deal intended to extend professional liability coverage for nurses across the majority of US states.
Sophia Palmer Nurses RRG was established in 2006 to provide nurses in Florida with professional liability coverage.
Sanford Elsass, president of The Uni-Ter Group, said in a statement that the merger would extend this coverage to nurses in the 48 states covered by Lewis & Clark LTC RRG, a provider of liability insurance to long-term care facilities.
According to the statement, under the merger nurses will be permitted to keep their insurance when they move from state to state and nurses holding stock in Sophia Palmer will receive equivalent shares of Lewis & Clark.
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