SOBC DARAG has acquired Innovative Physicians Solutions (IPS) Risk Retention Group (RRG), following approval from the Vermont Department of Financial Regulation.
Mark Tabler, current COO of IPS, will move to SOBC DARAG after the sale in order to help with the development.
Stephanie Mocatta, CEO of SOBC DARAG, said: “This is our second acquisition in Vermont of an RRG in recent months and our fourth overall.”
She explained: “We continue to provide market-leading solutions for true finality for members of RRGs and are pleased to be building upon previously completed transactions, including the acquisition of American Safety.
Mark Tabler, COO of IPS, said: “The RRG has served its member insureds in a serviceable, respectful and responsible manner over the past 15 years.”
He stated: “It was my pleasure to serve as the COO of the RRG. I have full faith and confidence in SOBC DARAG to run out the company in a manner that will be fitting and serviceable to all the members.”
