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Risk Retention Reporter
Article Excerpts - July 2008
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Subprime Problems, Soft Market Depress 2007 RRG Premium
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A combination of problems arising from the subprime mortgage debacle and the soft property/casualty insurance market have taken a toll on 2007 annual gross written risk retention group premium. . . .For full story, subscribe to the Risk Retention Reporter at www.rrr.com/order
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Contractors/Homebuilders RRGs´ 2007 Premium Declines 34.0%
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Of all business areas in which risk retention groups operate, none experienced greater declines in 2007 premium than those in Property Development. Overall, the sector's 2007 premium declined by over 30%. . . .For full story, subscribe to the Risk Retention Reporter at www.rrr.com/order
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Physician RRGs´ 2007 Premium Increases by Ten Percent
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While annual gross premium written by risk retention groups in Healthcare grew slightly in 2007 from the previous year, increasing by 0.8% to $1,420.6 million--RRGs insuring physicians did far better. . . .For full story, subscribe to the Risk Retention Reporter at www.rrr.com/order
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RRG Industry Indicators Finds RRGs Holding Their Own in Soft Market
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The second quarter analysis contained in RRG Industry Indicators reveals that RRG retirements have declined significantly in comparison to past soft market quarters. ... Tracking industry trends and developments, the second quarter analysis reveals that, faced with stiff competition from traditional insurers, RRGs are holding their own. For full story, subscribe to the Risk Retention Reporter at www.rrr.com/order
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California´s Narrow Interpretation of Federal/State Laws Impacts RRGs
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California's interpretation of how the Liability Risk Retention Act (LRRA) and its own state laws apply to risk retention groups continues to generate controversy. While RRGs and California have engaged in minor skirmishes. . . .For full story, subscribe to the Risk Retention Reporter at www.rrr.com/order
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CA Denial of DC-RRG´s Registration Raises LRRA Discrimination Issue
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The California Department of Insurance (CDI) has denied the registration application for Indemnity Insurance Corporation of DC, Risk Retention Group (IICDCRRG) . . . .For full story, subscribe to the Risk Retention Reporter at www.rrr.com/order
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CA´s Liquor Liability Law Does Not Immunize Against All Civil Liability
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The application for registration to operate in California by Indemnity Insurance Corporation of DC, Risk Retention Group, was denied by the California Department of Insurance (CDI) for several reasons, including that it provides liquor liability coverage, which California asserts is uninsurable. . . .For full story, subscribe to the Risk Retention Reporter at www.rrr.com/order
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Montana RRG Files Response to CA´s Claim Challenging Its Legitimacy
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Auto Dealers Risk Retention Group (AD-RRG), a Montana-domiciled RRG that provides stop-loss contractual liability for California auto dealers has filed a response to the counterclaim filed by California's insurance commissioner. . . .For full story, subscribe to the Risk Retention Reporter at www.rrr.com/order
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Court Sets 2009 Trial Date in California/Auto Dealers RRG Dispute
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The United States District Court for the Eastern District of California has issued its "Status (Pretrial scheduling order)," setting forth deadlines for all matters pertaining to the dispute between Auto Dealers Risk Retention Group vs. Steve Poizner, California insurance commissioner. . . .For full story, subscribe to the Risk Retention Reporter at www.rrr.com/order
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Connecticut Becomes 28th state to Enact A Captive Law
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With the passage of S.B. 281, signed into law by Gov. Jodi Rell in June 2008, Connecticut has become the 28th state to enact a captive law and the twenty-first state allowing risk retention groups to form under such law. Modeled after Vermont's captive law, the new Connecticut law, which goes into effect January 1, 2009. . . .For full story, subscribe to the Risk Retention Reporter at www.rrr.com/order
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NAIC Mulling Accreditation Standards for Non-RRG Captives
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The question of whether accreditation standards should apply to non-risk retention group captives having a "multi-state impact" is currently being considered by the National Association of Insurance Commissioners (NAIC). At the NAIC summer national meeting held in San Francisco, the Financial Regulation Standards and Accreditation (F) Committee voted to release a memo. . . .For full story, subscribe to the Risk Retention Reporter at www.rrr.com/order
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RRG CEO of the Month: Mark D. Nozette, ALAS RRG
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In this month's RRG CEO of the Month, Mark D. Nozette, president and CEO of Attorneys' Liability Assurance Society, Inc., A Risk Retention Group, a Vermont-domiciled RRG that provides professional liability insurance for large law firms with a minimum of 35 attorneys, shares his insights into what makes for successful RRGs. . . .For full story, subscribe to the Risk Retention Reporter at www.rrr.com/order
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Using RRGs to Lower Employer Healthcare Costs: In PROFILE
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In this month's PROFILE, consultants in Milliman's Hartford Health Practice -- Kathleen E. Ely, FSA, MAAA, actuary, and Eric J. Patel, actuarial associate -- explore risk retention groups as an option for employers faced with rising healthcare costs. . . .For full story, subscribe to the Risk Retention Reporter at www.rrr.com/order
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Creating Empowered Boards in "RRG Boards´ Best Practices"
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In this quarter's RRR feature -- RRG Boards' Best Practices -- Sanford "Sandy" Elsass, who serves as the president and underwriting manager of four risk retention groups, provides an in-depth discussion on what constitutes empowered RRG boards. . . .For full story, subscribe to the Risk Retention Reporter at www.rrr.com/order
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