From the 2018 February Risk Retention Reporter

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Seventh Circuit Vacates, Remands Wisconsin RRG Decision

On January 12, The United States Court of Appeals for the Seventh Circuit vacated and remanded a decision by the United States District Court for the Western District of Wisconsin regarding the ability of Restoration Risk Retention Group, Inc. (Restoration Risk) to provide insurance to the franchisees of Servpro Industries Inc. in that state. Responses to the decision were mixed....

NRRA Files Letter with Minnesota Commerce Department

The National Risk Retention Association (NRRA) has filed a letter with the Minnesota Commerce Department (the Department) regarding the difficulty RRGs have had registering to do business in the state....

R&Q Acquires Assets of Connecticut’s Only RRG

Randall & Quilter Investment Holdings Ltd. (R&Q) a Hamilton, Bermuda-based company that acquires legacy insurance assets, said last month it had assumed the liabilities of a commercial auto liability risk retention group domiciled in Connecticut in order to wind it down—and the company is looking to buy more failing RRGs....

Fourth Circuit Agrees to Hear Appeal in Cohen Conviction

The U.S. Court of Appeals, Fourth Circuit has agreed to hear the appeal of former risk retention group executive Jeffrey B. Cohen’s conviction of insurance fraud, obstruction of justice, and other charges....

Weak Formations Contribute to Sustained Decline in RRG Numbers

There was a net decline of ten operational risk retention groups in 2017, further suggesting that the RRG industry is the midst of protracted decline in the number of operational RRGs. The number of operational RRGs was 261 at the end of 2012. At the end of 2017 the number of operational groups was 228, and decline of 12.6%....

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RRGs & PGs

As of February 2018
229 RRGs
1002 PGs