Specialty Insurance Services, LLC (SIS) was founded in 2001 to serve as the back office management (Attorney-In-Fact) for Positive Mutual Risk Retention Group (PMRRG), a South Carolina domiciled Risk Retention Group insuring Pennsylvania physicians for their malpractice coverage.

In July of 2004, PMRRG transitioned to a Pennsylvania domiciled Reciprocal Insurance Exchange; Positive Physicians Insurance Exchange (PPIX) and SIS remains as back office support for the Pennsylvania medical malpractice insurer who currently insures 400 multi-specialty physicians.

SIS is directly responsible for underwriting, billing and policy issuance and remotely works with third party administrators such as claim and risk management services, actuaries, reinsurers, regulatory compliance, accountants, and independent auditors.

In order to comply with the new Center for Medicare and Medicaid Services (CMS) reporting requirements as outlined in Medicare, Medicaid, and SCHIP Extension Act of 2007 Section 111, SIS has developed our own software; Compliance™ Medicare Reporting Systems.

In early 2009 CMS released information that effective March 2010 all insurers (including self insured entities) must report liability, workers compensation, and no fault claim settlements, awards, and judgments that involved a Medicare beneficiary to CMS. There are in excess of 150 fields of data that need to be transmitted to CMS.

CMS has indicated that there will be a $1,000 per day/per claim fee that will be charged to a Responsible Reporting Entity (RRE) for incorrect or late reports. Reporting is done on a quarterly basis at a time specified to each RRE by CMS.

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Aran Insurance Services Group, a provider of insurance and financial services based in Rockville Centre, N.Y., announced today its recent acquisition of Health Reinsurance Management Partnership (HRMP), a specialty health-care company based in Danvers, Mass., and MiniCo Insurance Agency, LLC, a Phoenix-based provider of specialty insurance products and publications for the self-storage industry.

Both newly acquired companies will continue to do business under their current names and operate from their present locations. HRMP will focus on health specialty products and services. MiniCo Insurance Agency, LLC, will continue to support its commercial insurance and tenant insurance lines of business as well as continue to publish periodicals, annual information resources and other publications for self-storage professionals.

Tim Kenny, Executive Chairman of Aran Insurance Services Group, commented, “This is the first in a series of strategic moves by which we will position Aran Insurance as a leading provider of specialty insurance and financial products.” Aran Insurance President and CEO John LaCava said, “These actions represent further steps toward our goal of building a suite of diversified insurance products that will serve the United States and Canadian markets.”

HRMP and MiniCo Insurance customers will experience no change in their interactions with each company. The companies’ locations, staff and service offerings will remain unchanged. Independent insurance agents, self-storage insureds, and tenant insurance customers will experience no change in their interactions with MiniCo Insurance Agency, LLC. Periodical subscriptions, publication sales and the publishing staff will also remain unchanged.

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