From the 2019 August Risk Retention Reporter

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RRG Task Force Exposes Documents for Public Comment

The NAIC Risk Retention Group (E) Task Force released documents for public comment shortly after the NAIC Summer Meeting held in early August. The documents include updates to the NAIC Uniform Notice and Registration form, an FAQ on risk retention groups, and a document addressing best practices—for both domiciliary and non-domiciliary states—for risk retention groups. The public and interested parties will be able to make comments through September 6, 2019...

Spirit Commercial RRG Insolvency Heats Up, Funds Appear to be “Missing”

The second status report for Nevada-domiciled Spirit Commercial Auto Risk Retention Group, Inc. (Spirit or the Company) was filed on August 6, 2019 by Special Deputy Receiver Mark F. Bennett. The first status report noted that CTC Transportation Insurance Services (CTC) owed a large balance, estimated at more than $30 million, to Spirit. The second report states that some portion of those funds now appears to be “missing"...

USA Risk Group Departure Shakes Up Captive Manager Rankings

There were some big shakeups in the captive manager rankings this year. USA Risk Group—which completed its buyout from Spencer Capital Holdings Ltd. in May 2019—was the seventh largest captive manager in terms of premium and the second largest in terms of managed RRGs when the 2017 annual statement was filed in Spring 2018. As of the 2018 annual statement filed in April 2019, nearly all the risk retention groups formerly under USA Risk Group had moved to new captive managers. As a result, many captive managers have seen their position rise in the rankings of captive managers by premium...

2019 NRRA Conference to Pioneer Innovation

This year’s NRRA conference will be held from October 2-4 at the Sofitel Magnificent Mile Hotel in Chicago, Illinois. The theme of this year’s conference is ‘Pioneering Innovation,” and sessions at the conference will focus on trends shaking up the RRG industry. The conference will also feature a strong emphasis on networking, with the conference being a great opportunity to meet RRG regulators and service providers ...

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RRGs & PGs

As of June 2019
220 RRGs
1014 PGs