Regulation of Lancet Indemnity RRG by Nevada Raises Questions and Concerns.
From the 2019 January Risk Retention Reporter
Spirit Commercial RRG Refiles Annual Statement then Gives Up License
The Risk Retention Reporter recently discovered that Spirit Commercial Risk Retention Group, Inc. (Spirit), a Nevada-domiciled RRG, refiled its 2017 annual statement on August 31, 2018 and then on October 19, 2018 voluntarily suspended its certificate of authority filed with the Nevada Division of Insurance (the Division). ...
CICA Conference to Explore How Captives Can Shape the Future
The 2019 CICA International Conference will be held from March 10 to 12 at the JW Marriott Tucson Starr Pass Resort & Spa in Tucson, Arizona. The theme of this year’s conference is “Shaping the Future,” and there will several sessions addressing how captive insurance companies can meet challenges of the future...
Alabama Evolves As a Domicile Under Newly Modernized Law
After updating a decade-old captive law in mid-2016, Alabama continues to grow and evolve as a domicile for risk retention groups and other captives. While the state has not released final numbers on its 2018 formations, Risk Retention Reporter data shows it redomiciled one RRG last year. That’s up from 1 RRG that was also a redomicile, 9 pure captives, and one protected cell captive formed in 2017, the first full year the new law was in effect. At the end of 2017 Alabama had 50 captives...
Lancet Indemnity RRG Remains in Limbo
It’s been more than six months since Lancet Indemnity Risk Retention Group, Inc. was required to submit its runoff plan to the Nevada Division of Insurance (the Division). That plan has yet to be approved—or denied—by the Division, leaving the RRG in a state of limbo ...
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Preferred Property Program, Inc.