History

In the late 1980s, hospitals in Pennsylvania were experiencing difficulties in purchasing excess coverage in the commercial insurance market. With the support of VHA Inc., a group of independent non-profit hospitals in southeastern Pennsylvania came together to form Cassatt Insurance Company, Ltd., a captive insurer domiciled in Bermuda. Cassatt provided its members with excess medical professional and general liability coverage on a “shared” basis.

From its founding as a captive insurer, Cassatt was defined by a culture of sharing. Independent members worked collegially to share best practices, coordinate healthcare risk management efforts, focus intensely on claims management, and improve the quality of healthcare in their facilities.

Cassatt has continued to grow in the intervening quarter-century:

1992

Cassatt Risk Retention Group, Inc., domiciled in Vermont, was formed to provide the primary layer of insurance below the Pennsylvania Mcare Fund.

2006

Cassatt RRG Holding Company assumed responsibility for the claims, risk management, underwriting and finance functions previously managed by outside partners.

2012

Cassatt added its own in-house corporate counsel and medical director. The U.S. Department of Health and Human Services’ Agency for Healthcare Research and Quality (AHRQ) approved the creation of Cassatt’s Patient Safety Organization.

2013

Members formed a new Vermont-sponsored captive insurance company, Cassatt Insurance Group, Inc., to serve as the hub for all of the Cassatt companies and offer members additional products and services to address the changing healthcare market.

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