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Risk Retention Reporter
Article Excerpts - August 2010
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- For comprehensive monthly coverage of the RRG/PG marketplace,
subscribe to the Risk Retention Reporter.
- If you need a back issue or a past article, please e-mail us at subscriptions@rrr.com and provide the name of the article and the month and year of the issue of the RRR.
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GAO Asked to Study Non-Domiciliary Regulation of RRGs
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Driven by increasing frustration with non-domiciliary states overstepping regulatory boundaries as regards risk retention groups, the House of Representatives congressional committee overseeing RRGs has requested that the Government Accountability Office (GAO) conduct a study of the state regulation of RRGs
... For full story, purchase this single article or this month's
back issue of the Risk Retention Reporter.
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GAO Study Expected to Take Three to Eighteen Months
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Due to the unusually high number of studies that were requested within the financial reform legislation recently passed by Congress, it is unknown exactly how long the RRG study will take the Government Accountability Office (GAO) to complete. Estimates are that the GAO is expected to complete the study within
... For full story, purchase this single article or this month's
back issue of the Risk Retention Reporter.
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Nevada Rules RRG Can’t Write Auto Liability in the State
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In a surprising decision, the state of Nevada has ruled that risk retention groups may not write first dollar automobile liability coverage in the state. Following a hearing on June 21, Brett J. Barratt, Esq., Acting Commissioner for the Nevada Division of Insurance (NDOI), ruled that the Alliance of Nonprofits for Insurance, Risk Retention Group (ANI), must cease and desist writing such coverage in Nevada
... For full story, purchase this single article or this month's
back issue of the Risk Retention Reporter.
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Average Survival Rate of RRGs Above 60%
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The Risk Retention Reporter recently completed a study to determine the rate of survival for risk retention groups. Even though there is a continued soft market, RRGs are showing surprising resiliency, with a survival rate of 63% since the first groups were formed after the passage of the Liability Risk Retention Act (LRRA) in 1986
... For full story, purchase this single article or this month's
back issue of the Risk Retention Reporter.
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National Risk Retention Association Sets Fall Conference Agenda
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The National Risk Retention Association (NRRA) 2010 National Conference, held October 5-7, 2010 at the Pentagon City Ritz Carlton in Washington, D.C., will be presenting a wide range of education and information
... For full story, purchase this single article or this month's
back issue of the Risk Retention Reporter.
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New RRG to Provide Insurance to Aviation Repair Shops
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A new risk retention group–Aviation Alliance Insurance RRG, Inc. (AAIRRG)–will provide products liability insurance to aviation maintenance and repair shops that are members of the Aeronautical Repair Station Association (ARSA). The Montana-domiciled RRG, licensed on June 18, 2010, will insure general and completed operations liability
... For full story, purchase this single article or this month's
back issue of the Risk Retention Reporter.
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VCIA Celebrates 25th Annual Conference
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On the heels of Vermont licensing its 900th captive, the Vermont Captive Insurance Association (VCIA) held its 25th anniversary conference from Tuesday, August 10 through Thursday, August 12 at the Sheraton Hotel and Conference Center in Burlington, Vermont. The conference is the largest of its kind and was attended by nearly 1,200 with over 100 exhibitors, including exhibits by several other domiciles and one RRG
... For full story, purchase this single article or this month's
back issue of the Risk Retention Reporter.
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Georgia Featured State in August’s Domicile Review
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The Domicile Review is Risk Retention Reporter’s detailed monthly report on a single state’s legislative, regulatory, and financial history of risk retention groups and purchasing groups, its current oversight structure, along with any recent or upcoming state developments. This month’s focus is on Georgia.
... For full story, purchase this single article or this month's
back issue of the Risk Retention Reporter.
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Boards’ Best Practices: Perschetz Updates Governance Standards
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In the feature article, RRGs Boards’ Best Practices, Arthur Perschetz, leading counsel with the law firm of Baker & Daniels LLP with many years experience in captive insurance law, visits the status of corporate governance standards as set forth in the 2005 GAO study and by the NAIC. Many of these RRG corporate governance requirements are soon expected to be implemented. Perschetz also discusses that status of federal legislation concerning governance standards.
... For full story, purchase this single article or this month's
back issue of the Risk Retention Reporter.
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CEO of the Month: Phil Salvagio of Preferred Contractors Ins. Co. RRG
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This month’s CEO is Phil Salvagio, who, along with his business partners David Pike and Carl Savoia, has created a hands-on solution for small contractors on the West Coast with Preferred Contractors Insurance Co. RRG, LLC. His entrepreneurial approach has enabled him to create a multi-level insurance enterprise that gives him, and his partners, an ownership stake from management to brokerage to reinsurance.
... For full story, purchase this single article or this month's
back issue of the Risk Retention Reporter.
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Risk Retention Roundup
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This month two new risk retention groups were added to RRR listings and two RRGs were deleted, leaving the total number of RRGs at 250. Six new purchasing groups were added to the RRR listings and two PGs were deleted, bringing the total number of PGs to 807.
... For full story, purchase this single article or this month's
back issue of the Risk Retention Reporter.
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- For comprehensive monthly coverage of the RRG/PG marketplace,
subscribe to the Risk Retention Reporter.
- If you need a back issue or a past article, please e-mail us at subscriptions@rrr.com and provide the name of the article and the month and year of the issue of the RRR.
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