Management and Regulators Contribute to Spirit Commercial RRG's Mounting Troubles.
From the 2019 May Risk Retention Reporter
Lancet Indemnity Risk Retention Group Placed in Receivership
Lancet Indemnity Risk Retention Group, Inc. (Lancet RRG or the Company), an RRG providing liability coverage to physicians, has been placed into receivership as of April 12, 2019 by the Eighth Judicial District Court of Nevada. Lancet RRG reported negative surplus of $8.0 million in 2018 annual statement...
Special Report: RRG Premium up 1.7% in 2018
Risk retention group premium increased by 1.7% to $3,302.5 million in 2018, the eighth consecutive year of premium growth for the industry. Premium growth in 2018—the lowest since 2013—was hampered by the insolvencies of three risk retention groups—Lancet Indemnity RRG, Inc., Elite Transportation RRG, and Spirit Commercial Auto Risk Retention Group. Collectively the three insolvencies caused a premium loss of $81.1 million. This month’s special report provides an in-depth breakdown of the 2018 premium results by business sector...
Vermont RRG Premium Tops $2B, NC and D.C. Post Strong Gains
Vermont saw collective premium for its domiciled risk retention groups surpass $2 billion in 2018 after a 1.9% increase took premium up to $2,016.6 million. No other domicile has more than $500 million in risk retention group premium. Other states with strong premium growth include the District of Columbia, North Carolina, and Tennessee. Among established domiciles, Nevada and Montana saw the largest declines...
Risk Retention Roundup
This month five new risk retention groups were added to the Risk Retention Reporter listings, and three RRG were deleted, taking the total number of risk retention groups up to 221.Two new purchasing groups were added to the Risk Retention Reporter listings, and no PGs were deleted, taking the total number of purchasing groups up to 1,111...
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RRGs & PGs
Preferred Property Program, Inc.