EPIX RRG Placed in Rehabilitation

Emergency Physicians Insurance Exchange Risk Retention Group (EPIX RRG) was placed in rehabilitation by the Vermont Superior Court for Washington County (the Court) on February 26, 2021. Vermont Department of Financial Regulation (Vermont DFR) Commissioner Michael S. Pieciak was appointed as the Rehabilitator.

Commissioner Pieciek requested that EPIX RRG be placed in rehabilitation due to the company’s insolvent financial condition that made continued operations financially hazardous to policyholders, claimants, and the Company’s creditors. Members of the EPIX RRG board of directors consented to the rehabilitation after consultation with Commissioner Pieciek.

Under the rehabilitation order, Commissioner Pieciak will take control and possession of EPIX RRG’s assets and administer them under the general supervision of the Court. Commissioner Pieciak will also implement the Plan of Rehabilitation.

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