Emergency Physicians Insurance Exchange Risk Retention Group (EPIX or the Company) was placed in rehabilitation on February 26, 2021, by order of the Vermont Superior Court for Washington County (Docket No. 21-CV-348).  The Court appointed the Commissioner of the Vermont Department of Financial Regulation as Rehabilitator.  The proceeding is being conducted pursuant to 8 Vt. Stat. Ann. c. 145, Subchapter 3.


The Commissioner requested that the Court place EPIX in rehabilitation because the Company was insolvent and its continued transaction of business would be hazardous financially to policyholders, claimants, and the Company’s creditors.  The Commissioner consulted with the Board of Directors which consented to rehabilitation. The Order for Rehabilitation directs the Commissioner as Rehabilitator to take control and possession of the assets of EPIX, administer them under the general supervision of the Court, and implement the Plan of Rehabilitation detailed in ¶ 8 of the Petition for Rehabilitation. The Plan of Rehabilitation is designed to ensure that EPIX creditors are in no worse position than they would enjoy in liquidation and contemplates, among other things, the following:


  • EPIX will pay all reasonable administrative expenses in full in the ordinary course of business. See 8 Vt. Stat. Ann. § 7081(1) (priority class 1).

  • The Company, as directed by the Rehabilitator, will adjust and determine policyholder-level claims and other policy-related obligations.  See 8 Vt. Stat. Ann. § 7081(3) (priority class 3).  The Rehabilitator will then reimburse policyholders for 40% of the costs of defense and indemnity, deferring payment of the remainder. 

  • EPIX will defer payment of liabilities that would fall within priority classes 4 through 10 in liquidation. 8 Vt. Stat. Ann. § 7081(4) through (10) (deferred priority classes).

  • When the Company’s obligations can be estimated with a high level of confidence, the Rehabilitator will propose to the Court an additional (final) distribution and request that the Court convert the proceeding to a liquidation,


The Rehabilitator will continue to maintain this webpage during the initial months of the rehabilitation.  Visitors are encouraged, however, to visit the Vermont Department of Financial Regulation website regarding EPIX (www.dfr.vermont.gov/EPIX) which will be maintained and updated throughout the course of the proceeding.


For further information, please see the following key rehabilitation records:

  • Petition for Order of Rehabilitation with associated pleadings (2/18/21)

  • Order of Rehabilitation (2/24/21)

  • EPIX Rehabilitation Q&As (3/2/21)

  • Rehabilitator's First Status Report (5/2421)

  • Rehabilitator's Second Status Report-as filed (12/27/21)


Contact Information

  • If you have questions regarding the liquidation process, please contact counsel for the Rehabilitator (Stuart Leslie, sleslie@rackemann.com or 617/951-1130).

  • If you are a policyholder with questions regarding the handling of your claim, please contact the EPIX claims department (claims@epixrrg.com).

  • If you are a policyholder seeking reimbursement for defense expenses, please send the supporting invoices to claimsinvoices@epixrrg.com.

Rehabilitator's First Status Report (May 24th, 2021)

Rehabilitator's Second Status Report-as filed (December 27th, 2021)


Petition for Rehabilitation Filing (February 18th, 2021)

Order of Rehabilitation (February 24th, 2021)

EPIX Rehabilitation Q&As (February 9th, 2022)

Updated 2/25/22


(or earlier, if contract runs out)