From the 2014 August Risk Retention Reporter

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Saito Appointed as Hawaii´s Captive Insurance Administrator

Hawaii Insurance Commissioner Gordon Ito has appointed Sanford Saito as the deputy commissioner and captive insurance administrator for the Department of Commerce and Consumer Affairs (DCCA) Insurance Division. Saito previously held the position in an acting capacity. Hawaii is the fifth largest RRG domicile—with $110.9M in RRG premium in 2013—and the fourth largest captive domicile in the country....

RRG Premium Retention Trending Upward, Surpasses 50%

RRG Premium Retention Trending Upward, Surpasses 50% RRG premium retention was 50.8% in 2013—the first time since 1991 that RRGs have retained over half of gross premium. Premium retention is measure of how much premium and risk an RRG takes on, versus how much is ceded to reinsurers. This report on premium retention is an excerpt from a comprehensive Risk Retention Reporter report on reinsurance in the RRG marketplace that is in preparation....

Tenth Circuit Rejects Appeal from CPIG in Oklahoma

The United States Court of Appeals for the Tenth Circuit has rejected an appeal from Creditors’ Insurance Purchasing Group (CIPG) in a suit against the Oklahoma Commissioner of Insurance regarding whether or not its collateral protection insurance (CPI) product is considered liability insurance under the Liability Risk Retention Act....

Evergreen USA Closes Down, Transfers Renewals to Leavitt Rec

Nearly 25 years after its founding, Evergreen USA Risk Retention Group, Inc. announced it had ceased writing new policies and planned to cease renewing existing policies as of July 15. The RRG provided liability insurance to the RV park, campground, and outdoor recreation industries....

Shared Values Motivate Risk Management in Institutional Risk Retention Groups

This month's feature on institutional RRGs is the third and final feature in the Risk Retention Reporter's series on risk management. The article includes commentary and insight on risk management from Michael Bemi President and CEO of The National Catholic Risk Retention Group; Pamela Davis founder, president, and CEO of Alliance of Nonprofits for Insurance Risk Retention Group; and Constance Neary vice president of risk management at United Educators Insurance, A Reciprocal Risk Retention Group....

Other Industry News

August 19, 2014 | The New York Times

California Court Limits Caregiver Suits

The California Supreme Court has ruled that a home health aide may not sue a client with Alzheimer’s disease for an injury incurred on the job. The case is one of the first in the nation to assess legal remedies available to paid caregivers who work with Alzheimer’s patients at home. Read more »

August 19, 2014 | Insurance Journal

Earthquake Gap: Insurance Sales Falling As Risk Rises

While earthquake risks are rising in the U.S., fewer homeowners nationally say they have earthquake insurance, creating a potentially huge gap in coverage, according to the Insurance Information Institute. Read more »

August 19, 2014 | Captive Insurance Times

NAIC demands more transparency

The National Association of Insurance Commissioners (NAIC) has adopted a Corporate Governance Annual Disclosure Model Act and supporting Model Regulation, which provides a means for insurance regulators to receive additional information on the corporate governance practices of US insurers on an annual basis. Read more »

August 19, 2014 | Property Casualty 360

Treat the system, not just the injury

There is good news and bad news for employers of nearly 3.1 million Americans who will be hurt on the job this year: The number of worker injuries has steadily declined over the last few years, but the severity of injuries has increased and medical costs are rising. Read more »

August 18, 2014 | The New York Times

Hack of Community Health Systems Affects 4.5 Million Patients

Community Health Systems, a publicly traded hospital operator based in Franklin, Tenn., said that personal data, including names, Social Security numbers and addresses, for 4.5 million patients had been compromised in a Chinese cyberattack on its systems from April to June. Read more »

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RRGs & PGs

As of July 2014
239 RRGs
924 PGs