Fraud, Conspiracy Alleged in Spirit Business Court Complaint.
From the 2020 May Risk Retention Reporter
LRRA May Preempt COVID-19 Orders of Non-domiciliary States
On April 13, 2020 California Insurance Commissioner Ricardo Lara issued Bulletin 2020-3 that required all property and casualty and workers compensation insurers to make an initial premium refund for the months of March and April to policy holders adversely impacted by the coronavirus. California is one of many states issuing such bulletins, but the National Risk Retention Association (NRRA) and risk retention group regulators have stated that such orders may be preempted by the Liability Risk Retention Act (LRRA)....
Special Report: RRG Premium up 8.3% in 2019
Risk retention group premium increased by 8.3% to $3574.7 million in 2019, the largest increase in over a decade. Growth this year was distributed across all business sectors, apart from the now defunct Hospitality sector. The breadth and degree of growth suggest that the market was hardening over the course of 2019.This month’s special report is an analysis of 2019 RRG premium by business sector....
Risk Retention Roundup—Physicians Casualty RRG Declared Insolvent
This month one new risk retention group was added to the Risk Retention Reporter listings, and six RRGs were deleted, taking the total number of RRGs down to 218. No new purchasing groups were added to the Risk Retention Reporter listings, and no PGs were deleted, leaving the total number of PGs at 1,022....
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RRGs & PGs
Preferred Property Program, Inc.