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Just What Is So Great About TNCRRG Anyway?
There are many very solid arguments that can be made that strongly support the proposition that TNCRRG has indeed produced substantial and significant benefits for its insured shareholders (and in fact, the broader Church) – benefits that go far beyond the mere provision of good insurance. These benefits derive from several circumstances, including:
- The fact that TNCRRG’s Board and management recognize their fiduciary duties as stewards of the patrimony of the Church
- The fact that TNCRRG is 100% owned by, and exclusively devoted to satisfying the needs of, Roman Catholic organizations
- The fact that the TNCRRG Board and its management perceive their roles on behalf of the Church as a ministry of risk management and insurance, ultimately designed to assist TNCRRG shareholder entities with the accomplishment of their spiritual ministries
So what does the TNCRRG “track record” display in this regard? Does it support the existence of the circumstances just enumerated and the associated benefits of ownership?
In its very brief, 30 year history, TNCRRG has:
Shareholder Service Excellence
- TNCRRG – with the assistance of our friends and colleagues at MEDPsych – has developed “The Analysis, Settlement and Defense of Diocesan and Religious Institute Injury Claims -- Online Training and Reference Program for Claims, Risk Management and Legal Professionals.” This comprehensive and robust program is provided to shareholders free of charge. No major insurer or TPA has offered anything vaguely comparable to their clients.
- TNCRRG initiated in 2007 an ongoing program of free audits of shareholders’ TPA’s performance and results.
- TNCRRG has enabled electronic portal connections for each of its shareholders and their brokers. The TNCRRG Portal is an expansive communications, information and interaction platform rarely duplicated by any major insurer or TPA. Shareholder renewal applications can be completed online and shareholder claims can be submitted online.
- TNCRRG has already returned $6,654,947 of originally contributed capital to its shareholders, through stock repurchases. This equated to 93.33% of each shareholder’s initial capital contribution.
- TNCRRG has already declared $8,879,437 of stock dividends (i.e., issued additional shares) to its shareholders.
- TNCRRG has already distributed $1,050,724 of cash dividends to its shareholders.
- TNCRRG has already paid $237,065,112 of claims on behalf of the Church and was reserved to pay additional claims of $37,740,080 on behalf of the Church – as of 1/1/2019.
These are only a few of the highlights of TNCRRG’s leadership on behalf of the Church. Click the links to the left to learn about other highlights.
All these lead to an irrefutable conclusion: over the last 29 years, no primary insurer, excess and surplus lines insurer, reinsurer (including all of the other Catholic insurers), broker or TPA has done as many excellent things for the Church, in as many different ways, as frequently and consistently, as has The National Catholic Risk Retention Group, Inc.! |
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