From the 2015 April Risk Retention Reporter
RRG Premium Up 10.5% in 2014, Nearing $3 Billion
Risk retention groups reported their largest premium increase in a decade this year. In the 2014 annual NAIC filings, risk retention groups reported gross written premium gains of 10.8%, increasing to $2,926.0M from $2,647.4M....
Captive Market Still Strong, But IRS Scrutiny Dampens Micro Formations
After continued growth in 2014 the captive market will likely slow somewhat in 2015, thanks to soft market conditions and ongoing uncertainty about recent scrutiny of 831(b), or “micro,” captives by the Internal Revenue Service, top regulators said. ...
Terrafirma RRG Provides Custom Coverage to Land Trusts Nationwide
Risk retention groups have proven to be remarkably versatile vehicles for providing liability insurance and risk management, as demonstrated by Terrafirma Risk Retention Group LLC. After a number of the larger traditional insurers refused to provide underwriting, Terrafirma RRG was formed to provide conservation defense liability insurance to its members who are non-profit land trusts operating in 46 states and the District of Columbia. ...
Georgia Updates Captive Law, Cutting Taxes and Fees
Georgia has revamped its laws regarding captive insurance companies, cutting taxes and fees among other changes as a way to encourage more formations in the state. The new captive law, House Bill 552, was passed by both the state house and senate and is expected to be signed by Governor Nathan Deal this month. ...
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RRGs & PGs
Lenders Protection Assurance Co., RRG
National Independent Truckers Ins. Co., RRG
Preferred Contractors Ins. Co. RRG, LLC
Preferred Property Program, Inc.