How are the Reserve Funds of our Group Captive protected?
• All premium funds ceded by PBR to its reinsurance company (which is responsible for management of the medical groups reinsuring the front line of claims limits described above) will be held in a “Reinsurance Trust,” which is subject to the regulatory control of the home state regulatory agency, the Nevada Office of Insurance (NOI). • Reinsurance trust funds will be held in a Nevada bank, serving as the trustee of the Reinsurance Trust. • Reinsurance funds can only be withdrawn for reinsurance purposes, and are subject to ongoing regulatory oversight by NOI and strict control by PBR’s managers. • This structure protects the company, its insureds, its reinsurers, the reinsuring captive insurance companies, and the company regulators.
