2017 June Risk Retention Reporter Headlines and Article Excerpts

Industry Gears Up for Annual VCIA Conference in August

The Vermont Captive Insurance Association Conference, slated for this August 8 through 10 in Burlington, Vermont, will feature a wide array of educational, legislative, industry-specific and other sessions and include presentations from both regulators and a range of insurance professionals on everything from accounting to risk management to tax law....

Puerto Rico: A Domicile with Risks and Rewards

The U.S. territory of Puerto Rico has been growing as both a domicile for captives and as a market for both captives and risk retention groups—and that doesn’t seem likely to change, despite a recent bankruptcy caused by over $70 billion in debt and a long-shot bid at statehood. However, concerns about the economic turmoil engulfing the island territory remain...

Mechlin Moore, a Key Voice in the RRG Industry, Passes Away

The risk retention group industry is mourning the loss of Mechlin Moore, the former Director of Communications for the National Risk Retention Association (NRRA) and the lead feature writer at the Risk Retention Reporter for many years. Moore passed away in his sleep on the night of June 13 after a prolonged battle with cancer. He was 87...

RRGs Post Surplus Gains, Assets Flat

Despite continued unfavorable market conditions RRGs have continued to post strong financials—excepting income figures where RRGs, like the greater property/casualty market, took a hit in 2016. (See May 2017 Risk Retention Reporter) Total admitted assets for RRGs were flat in 2016, increasing by 0.7% to $11,619.2M, while growth in surplus for risk retention groups slightly outpaced premium growth, increasing by 2.4% to $4,762.1M...

Risk Retention Roundup

This month no risk retention groups were added to the Risk Retention Reporter listings and two RRGs were deleted taking the total number of RRGs down to 229. No new purchasing groups were added to the Risk Retention Reporter listings and no PGs were deleted leaving the total number of PGs at 990...

Special Feature: The Judicial Legacy of OMIC v. Musser

This month’s special feature takes a look the judicial legacy of the 1998 decision Ophthalmic Mutual Insurance Company v. Musser, which effectively barred Healthcare risk retention groups from doing business in Wisconsin. A decision that once again entered the spotlight after it was cited by the court in the ongoing case involving Restoration Risk Retention Group, Inc., that was appealed to the United States Court of Appeals for the Seventh Circuit earlier this year...

PG Premium Bounces Back in 2016, Up 4.3%

Purchasing Group premium increased by 4.3% to $1,475.5M in 2016, a strong recovery from the 12.3% decline in premium posted in 2015. However, the volume of PG premium reported by insurers still remains significantly lower than the high of $1,846.6M reported by insurers in 2008...

RRGs, Captive Managers, and Others in the News

The National Catholic Risk Retention Group, Inc. (TNCRRG) has appointed Dennis H. O’Hara as its new president and CEO effective August 15. O’Hara is replacing outgoing President Michael J. Bemi who is retiring in August after almost 18 years in the role...