New York, NY – June 23, 2025 – Tradesman Program Managers announced today a strategic development in its federal litigation campaign to combat widespread insurance fraud in New York’s construction industry.
A recent procedural ruling by a federal judge dismissed one of Tradesman’s RICO complaints, without prejudice, but also permitted it to amend the complaint to overcome the dismissal. The company views this as an important step in a long-term effort to hold fraud rings accountable and recover millions in losses on behalf of its insureds.
The court’s decision, which was based on standing rather than the merits of the case, opens the door for Tradesman to amend and expand its legal approach. Tradesman’s legal tactic is now being recalibrated to maximize future impact.
“This ruling gives us an opportunity to broaden our scope, strengthen our legal position, and realign the case to ensure the strongest possible recovery for our insureds and carrier partners,” said Tradesman CEO Daniel Hickey Jr.
Tradesman is encouraged that the judge noted in his decision that the fraud appears to be of legitimate concern.
“Undoubtedly, [the AC] paints a picture of a troubling fraud,” U.S. Eastern District judge Hon. Hector Gonzalez wrote.
Tradesman and its affiliate, Roosevelt Road Re, are now exploring several new options and expect to file an amended complaint before the court-imposed deadline of July 21, 2025.
“This litigation campaign is unprecedented, and we remain confident in both the strategy and the outcome,” Hickey Jr. said.
Media Contact:
Kristin Thorne
Senior Vice President, Corporate Communications
317-296-5870
ABOUT ROOSEVELT ROAD SPECIALTY AND TRADESMAN PROGRAM MANAGERS
Established in 2016, Roosevelt Road Specialty is a market-leading specialty managing general underwriter delivery expertly designed insurance solutions that empower brokers to serve clients faster, more accurately and with greater confidence. Insurance Business Review named Roosevelt Road Specialty a Top MGA Company of 2025.
In 2017, Roosevelt Road Specialty created Tradesman Program Managers – its reinsurance program for trade contractors and construction. Tradesman combines expert underwriting, state-of-the-art technology, comprehensive loss control and risk mitigation to address the unique risks of the construction industry.
In 2024, Roosevelt Road Specialty and Tradesman initiated the first of five federal RICO lawsuits against lawyers, doctors and medical providers across New York City and the greater metropolitan area. The suits allege a widespread scheme to defraud the insurance and construction industries and the New York State workers’ compensation system.
Learn more at www.rooseveltroadspecialty.com.
