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R&Q completes novation from Maryland self insurer

November 24, 2016
News

Randall & Quilter Investment Holdings Ltd. (“R&Q”) is pleased to announce the novation of liabilities from Maryland Motor Truck Association Workers’ Compensation Self Insurance Group (“MMTA WCSIG”), to its wholly owned ‘A-‘ AM Best rated US admitted insurer, Accredited Surety and Casualty (“Accredited”).

The MMTA WCSIG was formed in August of 1994 as a workers’ compensation self-insurance group for the members of the Maryland Motor Truck Association; and was later discontinued on January 1, 2006. Accredited assumed all liabilities from the group for years 1994-2006, and in doing so has provided full finality for the MMTA WCSIG.

Ken Randall, Chairman and Chief Executive Officer of R&Q, explained “We are delighted to complete this novation, which represents our first transaction with a US based self-insurer. This deal reinforces our team’s innovation in structuring transactions to provide full finality to an increasing variety of entities with legacy insurance liabilities in the US marketplace. The US self-insurer market is very substantial in size and we have several legacy deals of this nature in the pipeline”.

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