2017 August Risk Retention Reporter Headlines and Article Excerpts

Edmund Malaspina, Jr. Steps in as HAI Group President and CEO

Edmund Malaspina, Jr. has been appointed as the new president and CEO of HAI Group, which includes the Housing Authority RRG, one of the oldest and largest risk retention groups. Malaspina replaces outgoing president John C. Thomson. As president, Malaspina looks to reassert HAI Group’s core principles of strong risk management and effective community engagement...

Upcoming NRRA Conference Focuses on Radical Change

The National Risk Retention Association’s upcoming conference in Chicago, slated for September 26 through 28 will focus on future trends threatening the industry and the member companies of risk retention groups. As Joseph Deems, executive director of NRRA, explained, “We are taking a look at the concept of radical change...

Rec RRG: A New RRG Formed to Insure Hang Glider, Paraglider Pilots

While the members of Recreational Risk Retention Group Inc. (Rec RRG) might be a bit out of the ordinary, their reasons for forming an RRG are definitely not: just like so many other RRGs, for this group of hang glider and paraglider pilots, instructors, and schools, the decision to self-insure was driven by a lack of coverage available in the traditional market...

Special Feature: Domicile Update—Vermont

This month’s special feature provides an update on Vermont, the nation’s leading captive and risk retention group domicile. The article includes commentary from David Provost, Deputy Commissioner of Captive Insurance for the State of Vermont, on the current captive landscape and the process of forming an RRG in Vermont. The article also includes some highlights from the 2017 VCIA conference. The article begins on page 6....

RRGs Increased Cessions to Unaffiliated Reinsurers in 2016

Reinsurance cessions for risk retention groups increased by 2.9% in 2016, closely mirroring overall premium growth and leaving the cessions rate for RRGs at 41%. While the big picture RRG cessions changed little, larger shifts occurred across the different reinsurance categories, with unaffiliated domestic reinsurers seeing the largest gains...

Risk Retention Roundup

This month no new risk retention groups were added to the Risk Retention Reporter listings, and no RRG were deleted, leaving the total number of RRGs at 229. One new purchasing group was added to the Risk Retention Reporter listings, and no PGs were deleted, taking the total number of PGs up to 992...

RRG Ratings Roundup

A.M. Best has withdrawn the credit ratings assigned to Mountain States Healthcare Reciprocal Risk Retention Group (MSH) at the company's request. Prior to withdrawal, A.M. Best had affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” assigned to MSH. The outlook for both ratings was negative at the time of withdrawal...