ATTIC, RRG’s membership selection and underwriting process is designed to thoroughly evaluate the risk associated with the prospective member trucking company.  The decision to offer membership to a trucking company is within the sole discretion of the Board of Directors of ATTIC, RRG and is based on the recommendation of the Chief Executive Officer after completion of ATTIC, RRG’s Membership Selection and Underwriting Guidelines.

The foundation and ultimate success of ATTIC, RRG is the selectivity of its membership which is based on the strength of its Fleet Safety Standards and Rating System (“FSSRS”).  The FSSRS provides a benchmark for trucking companies seeking membership in ATTIC, RRG and creates a rating system to be used to regularly audit the performance of trucking company members.  The FSSRS will provide a numerical score to safety management controls within a trucking company that will provide a basis for membership qualification and create goals for improvement by member companies.  Recommendations will be made in areas identified as “immediate improvement” or “needs improvement” and the rating system will provide a benchmark to measure such improvement.

A minimum score of 67% (of the total applicable categories) must be met to be considered for membership and in order to maintain membership within ATTIC, RRG.  A trucking company applying for membership within ATTIC, RRG will not be considered for membership if the minimum FSSRS score is not met.  While any company member dropping below the minimum FSSRS score will face penalties and be required to bring their fleet safety program within compliance under established time frames.  Failure to do so may result in expulsion from membership within ATTIC, RRG.   A total score of all applicable categories will be compiled and appears on the FSSRS Audit Report of the member.

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ATTIC, RRG is a corporation existing under the laws of the State of Montana.  The shareholders are the individual trucking company insureds.  Percentage of share ownership depends upon the trucking company member’s initial premium.  At each member’s initial renewal with ATTIC, RRG it is required to execute a subscription agreement creating their obligation to become an insured with ATTIC, RRG and establishing their capital investment requirement.  In addition, each shareholder is required to execute a counterpart of the shareholders agreement setting forth their rights and obligations as a shareholder in ATTIC, RRG.

ATTIC, RRG has adopted corporate bylaws which establish a governing board of directors.  The Board of Directors is elected by the shareholders with each shareholder having one vote per board vacancy.  The chief executive officer serves on the board along with no fewer than four and as many as eight other directors.  The board is supported by audit, investment and personnel committees.

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ATTIC, RRG insures (1) commercial auto liability with per occurrence limits up to $5,000,000; (2) cargo liability with per occurrence limits up to $500,000; and (3) general liability with limits of $1,000,000 per occurrence and $2,000,000 in the aggregate.[1]  Each insured will maintain a deductible level of at least $50,000 per occurrence and as high as $500,000 per occurrence.

ATTIC, RRG is a deductible program providing its members with several options in size of deductible and type of deductible.  Rates can be developed for deductible programs of $50K through $500K per occurrence and either by coverage line or as a basket deductible.

In most cases, ATTIC, RRG does not require a member to initially collateralize its deductible program.  All ATTIC, RRG members must maintain a capitalized position (which includes its share of operational surplus) at least 125% of its reserved claims below its deductible.  If a members’ capital position drops below 125% of its reserved claims below its deductible, the member will be required to provide collateral.

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Each insured is also a shareholder (also referred to as a “member”) of ATTIC, RRG.  The amount of capital investment of each member depends upon the amount of the member’s premium.

ATTIC, RRG must maintain a 2-to-1 net written premium to capital ratio as regulatory surplus.  Net written premium is the portion of each insured’s total premium that is retained by ATTIC, RRG to cover the loss exposure for losses which ATTIC, RRG retains.   ATTIC, RRG retains the loss exposure for each loss below $500,000 (less the member’s deductible).  ATTIC, RRG’s capital consists of (1) the capital investment of each member/insured in ATTIC, RRG and (2) ATTIC, RRG’s operating surplus.  Each insured is required to make one-time cash investment at its initial renewal date.

For example, if ATTIC, RRG retains $400,000 of ABC Trucking Company’s total premium, ABC’s one-time capital investment will be $200,000.  This cash investment results in shareholder status on the insured’s renewal date.  The capital investment is a one-time investment in ATTIC, RRG to meet the required regulatory capitalization and create the equity in ATTIC, RRG necessary to secure the long-term stability of ATTIC, RRG.  ATTIC, RRG’s current capitalization and surplus exceeds $5,000,000.

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Although we believe the value creation and long-term benefits of the risk retention program will create a disincentive to leave ATTIC, RRG, we do recognize that circumstances may warrant a shareholder exiting the program.  The initial capital investment required at the member’s first renewal is restricted from being redeemed for a period of five-years from the initial renewal.  Although the Bylaws of ATTIC, RRG authorize the members to approve an earlier redemption, the shareholders have all committed to the same restriction.  Since ATTIC, RRG began paying dividends to its members, it is effectively redeeming capital investment through profitability.

Regardless, after meeting the five-year commitment, if a shareholder wishes to no longer insure through ATTIC, RRG and exits the Company, the redemption of the members’ investment includes:

  • The redeeming member’s percentage share of ATTIC, RRG’s book value on the date of redemption plus
  • The additional value generated through loss maturity and operating performance for all periods in which the redeeming shareholder was insured.

There are no penalties, discounts or write-downs of the member’s redemption value.  The member receives its share of the Company’s operating profits since its first renewal.  The redemption value is repaid with interest over a period of five years as the losses held on ATTIC, RRG’s books during the members’ insured-tenure mature and ultimately close.

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ATTIC, RRG completed an actuarial analysis and financial feasibility study in order to determine manual rates for the charter group members and individual rate indications based on each of the company’s 5-year loss history.  The rating plan was approved by the Board of Directors and has been submitted and accepted by the State of Montana and the reinsurance market.  Each new member’s rates will be determined through actuarial analysis of the member’s five-year loss history.  The loss history data is trended and developed by ATTIC, RRG’s actuarial firm.  The rating development is designed to establish a premium sufficient to administrate and pay for the member’s expected ultimate losses with credits provided for losses expected within a deductible layer and for investment income earned on the premium.

To begin the preliminary rate determination process a prospective trucking company must provide at least 5 years of ground-up loss history and corresponding mileage reports. 

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In meeting ATTIC, RRG’s mission to provide superior claims management to its member/insureds, ATTIC, RRG has established a claims management structure and legal defense panel designed to provide proactive response to claims with timely communication to and involvement with the member/insured having the claim.  ATTIC, RRG’s claims management structure and defense panel consists of the following components: (1) internal organizational management structure, (2) structured relationship with national claims management service providers, (3) claims reporting and handling protocol, (4) nation-wide legal defense panel, and (5) legal defense panel protocol.

ATTIC, RRG has adopted member-specific Claims Reporting and Handling Protocol that are tailored to the specific needs and claims customs of each its insureds.  These protocols govern the management of claims by ATTIC, RRG.  ATTIC, RRG contracts with over 1,000 independent adjusting companies nationwide, all of which have agreed to investigate claims within ATTIC, RRG’s protocol.

In addition, ATTIC, RRG has assembled a nationwide panel of trucking collision defense attorneys who: (1) are members of Trucking Insurance Defense Association or other trucking defense associations; (2) have a minimum of 5-years of trucking defense experience; and (3) have agreed to abide by ATTIC, RRG’s Defense Panel Protocol.

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ATTIC, RRG has transferred the risks of all catastrophic loss potentials to “A” rated reinsurance companies.  ATTIC, RRG maintains two layers of reinsurance – $1,500,000 excess of the first $500,000 (Layer One) and $3,000,000 excess of the first $2,000,000 (Layer Two).  Current reinsurance agreements exist on both layers with the following reinsurers:

Participating Reinsurance Companies  

Layer 1
Layer 2
JRG Reinsurance  26.5%
American Safety Reinsurance Ltd 15% 10%
SCOR Reinsurance Company 20% 15%
Aspen Insurance UK, Limited 5%
Lloyd’s Syndicates through AON Group Ltd 33.5%

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Since its inception ATTIC, RRG has accumulated invested assets exceeding $15 million.  The Company is regulated as any admitted insurance company in the size and type of investments it can maintain.  ATTIC, RRG earns enough investment income to cover its operating expenses reducing members’ premiums significantly.

ATTIC, RRG maintains relationships with two investment managers specializing in insurance company investment strategies and compliance.

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ATTIC, RRG has contracted with quality professional support service agencies all with captive insurance and/or trucking insurance backgrounds to manage various components of ATTIC, RRG’s operations.  Those agencies and their principal duties are:

  • Actuarial Services.  ATTIC, RRG contracts with Turner Consulting, Inc. of Atlanta, Georgia to provide actuarial analysis of loss data and financial performance.  George Turner specializes in trucking insurance programs, including individual and group captive entities.
  • ALPS Risk and Insurance Services. ARIS of Missoula, Montana (in the same offices as ATTIC, RRG) provides accounting support services.
  • AON Benfield.  AON Benfield of Chicago, IL and London, UK serves as ATTIC, RRG’s reinsurance broker and consultant.  AON Benfield is the worldwide leader in the reinsurance industry and is well versed in the reinsurance needs of captive insurance companies.
  • D.A. Davidson & Co. and Peak Investment Management, Inc.  ATTIC, RRG utilizes the investment expertise and management of D.A. Davidson and Peak Investment Management both of Missoula, MT.

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[1] Higher auto, cargo or GL limits can be obtained through umbrella carriers.