Physicians Indemnity Risk Retention Group, in Liquidation

On March 19, 2020 the Insurance Commissioner of the State of Nevada was appointed by the Second Judicial District Court of the State of Nevada as Temporary Receiver ("Receiver") of Physicians Indemnity Risk Retention Group, Inc. ("PIRRG") pursuant to NRS 696B.270(1) of the Nevada Revised Statutes. On April 2, 2020 pursuant to the authority granted the Receiver via the March 19th Receivership Order, the Receiver duly engaged Regulatory Services Group ("RSG") to act in the capacity of Receivership Manager and Special Deputy Receiver ("SDR").

Subsequent to year-end 2021, the Temporary Receiver has now been appointed Permanent Receiver and Liquidator as a result of the entry of an order for permanent receivership following a two day final show-cause hearing concluded in January 2022. The Nevada District Court (the Court) held a full day hearing on December 6, 2021 and a second full day hearing on January 14, 2022 to conduct the Order to Show Cause ("OSC") hearing to consider the merits of a permanent receivership. After submitting proposed orders to the Court on January 31, 2022 as instructed by the Judge, the Court entered a final ruling on March 28, 2022. RSG has commenced and will complete the closure of the Florida office and its support services as well as the disposition of all equipment and furnishings. The Temporary Receiver will have the Florida office and operations consolidated and closed by month-end March 2022.

The SDR continues to have full control over the PIRRG assets and operations and will plan and file appropriate pleadings with the Court to seek approval of a claims bar date and to commence a targeted proof of claim process. RSG will commence negotiations as well to recover final reinsurance asset recoveries.

• 2024 - 1 document
  • 02/06/2024 - Thirteenth Status Report
• 2023 - 7 documents
  • 11/09/2023 - Twelfth Status Report
  • 09/19/2023 - Receivership Claims and Appeals
  • 09/19/2023 - Receivership Claims and Appeals Procedure and Form
  • 08/11/2023 - Eleventh Status Report
  • 05/15/2023 - Tenth Status Report
  • 02/16/2023 - Ninth Status Report
  • 01/27/2023 - Order Granting Motion for Good Faith Settlement
• 2022 - 11 documents
  • 12/21/2022 - Motion for Good Faith Settlement
  • 11/18/2022 - Eigth Status Report
  • 08/19/2022 - Seventh Status Report
  • 08/01/2022 - Order Granting Motion Requesting the Setting of a Claims Filing Deadline and Granting Related Relief
  • 06/21/2022 - Motion to Approve Professional Rates & Expenses and to Establish Process for Review of Professional Expenses Moving Forward
  • 06/21/2022 - Request for Submission of Motion for Order Approving Expenses of Temporary Receivership
  • 05/12/2022 - Sixth Status Report
  • 04/22/2022 - Motion Requesting the Setting of a Claims filing Deadline and Granting Related Relief
  • 03/29/2022 - Order of Permanent Receivership and Order Granting Motion for Liquidation
  • 03/29/2022 - Order Granting Permanent Injunction of Physicians Indemnity Risk Retention Group, Inc.
  • 02/11/2022 - Fifth Status Report
• 2021 - 8 documents
  • 11/12/2021 - Fourth Status Report
  • 08/19/2021 - Third Status Report
  • 06/03/2021 - Errata to Second Status Report
  • 05/09/2021 - Second Status Report
  • 02/24/2021 - Temporary Receiver's Reply in Support of Motion for Order of Liquidation and Other Permanent Relief
  • 02/16/2021 - Opposition to Temporary Receiver's Motion for Order of Liquidation and Other Permanent Relief
  • 02/02/2021 - Temporary Receiver's Motion for Order of Liquidation and Other Permanent Relief
  • 01/12/2021 - First Status Report
• 2020 - 3 documents
  • 04/20/2020 - Appointment of Regulatory Services Group to Receivership of PIRRG
  • 04/10/2020 - Holloway Declaration Supporting Delay in Proceedings against PIRRG Policyholders
  • 03/19/2020 - Order Appointing Insurance Commissioner Barbara D. Richardson as Temporary Receiver