From the 2015 March Risk Retention Reporter
Delaware Shifts RRG Regulation From Captive Division
Two risk retention groups have changed domiciles after Delaware shifted the regulation of RRGs from the Captive Division to the unit that regulates traditional insurance companies in the state, the Bureau of Company Examination, Rehabilitation & Guaranty (BERG), in an effort to accommodate the National Association of Insurance Commissioners’ five-year accreditation review....
NAIC Task Force Holds Conference Call on Governance Standards
The NAIC Risk Retention Group (E) Task Force held a conference call on March 12 addressing the updated governance standards present in the revised version of the NAIC Model Risk Retention Act (MDL 705). The call was held in response to letters from RRGs concerned over the current draft of MDL 705....
New Firm, Administered by Demotech, to Collect RRG, Captive Data
Alternative Risk Transfer Statistical Solutions, Inc. (ARTSSI) is a newly formed company that intends to provide detailed, granular statistical reporting services to captive insurance providers, alternative risk transfer entities, and risk retention groups....
RRG Reinsurance Cessions Vary Across Business Sectors
In 2013, risk retention groups ceded $1,295.1M to reinsurers, 49.2% of total risk retention group premium for the year. The rate of cessions to reinsurers varies widely across business sectors for risk retention groups, as does the percentage of ceded premium flowing through affiliated companies....
Other Industry News
Driverless Car to Make First Coast-to-Coast Highway Trip
Delphi Automotive Plc, a supplier of car electronics, is undertaking the longest test of a driverless auto, going coast to coast in the U.S. with a specially outfitted Audi Q5 sport-utility vehicle. Read more »
Commercial insurance prices increase 2% in the fourth quarter of 2014
According to the latest Towers Watson Commercial Lines Insurance Pricing Survey (CLIPS), commercial insurance prices increased by a modest 2% during the fourth quarter of 2014. Read more »
NAIC responds to cyber needs
The National Association of Insurance Commissioners (NAIC) has responds to meet state insurance department cybersecurity needs, with two draft documents now exposed for comment. Read more »
Unseen Costs of Measles Outbreak
By now, we have all heard about the measles outbreak in California. We have heard both sides of the vaccination “controversy,” even though all of the evidenced-based research findings are uncontroversial. Read more »
Join the RRR discussion group on LinkedInConnect with colleagues and discuss the latest topics.
RRGs & PGs
Lenders Protection Assurance Co., RRG
National Independent Truckers Ins. Co., RRG
Preferred Contractors Ins. Co. RRG, LLC
Preferred Property Program, Inc.