LONG BEACH, Calif. & CRANBURY, N.J.--(BUSINESS WIRE)--TRISTAR Insurance Group, the largest independently-owned provider of third party administration (TPA) and associated services, announced today that Mike Riney, president and CEO of the newly acquired Risk Enterprise Management Limited (REM), has announced his retirement effective June 15, 2012.
A member of the REM executive team since its founding in 1995, Mike helped to build it into a top tier service organization, focused on world-class loss cost management practices and superior customer service. Under Riney’s leadership the company adopted its “We Take Claims Personally” approach to every aspect of its operations resulting in a culture of client satisfaction and retention, along with loss cost management outcomes that are among the best in the industry.
Tom Veale, TRISTAR Insurance Group’s owner and founder said “The culture of quality service and dedication to customer satisfaction that Mike instilled at REM was the main attraction in our decision to acquire REM. We will be taking that forward as we merge the two companies.”
Riney’s career spanned 35 years in the insurance claims and TPA business. He began his career as an adjuster trainee with Continental Insurance following graduation from the University of Oklahoma. Ultimately, Mike became senior vice president and chief claims officer of Continental Loss Adjusting and president of Continental Rehabilitation Resources. He joined REM in 1995 as executive vice president and chief claims officer, and was appointed president and CEO in 2003.
About TRISTAR Risk Management
TRISTAR Risk Management (www.tristarrisk.com) is the largest privately owned, independent third party claims administrator in the United States. Founded 25 years ago in 1987 TRISTAR is celebrating 25 years of providing excellent risk management services to a variety of clients including self-insured’s, insurance carriers, program underwriters, public entities and risk pools. With corporate offices in Long Beach, CA TRISTAR has 600 plus employees located in 22 branch offices across 10 states with annual revenues of $65 million.
About Risk Enterprise Management (REM)
Headquartered in Cranbury, NJ, REM (www.remltd.com) provides claims and managed care TPA services to Fortune 1000 businesses, program managers, insurers, reinsurers and brokers across the United States from 22 service office locations. Known for controlling its customers’ loss costs by aggressively managing leakage through professional best practices, the company also provides user-friendly, web-based information tools along with extraordinarily responsive, tailored customer service.