In 2018, Vermont-domiciled STICO Mutual Insurance Company Ins. Co. Risk Retention Group (STICO) saw its outlook from A.M. Best downgraded to negative. STICO’s A.M Best rating is a critical component of the RRG’s operation, as many of its members require A-rated paper. According to STICO President Colin Donovan, A.M. Best had told him that “we want to see our A-rated ...

Demotech, Inc. recently published its Analysis of Risk Retention Groups—Year End 2020. The report finds that risk retention groups continue to report strong financials, with strong gains in assets and policyholder’s surplus. According to the report, risk retention groups also reported premium growth of 6.4% that took premium for the risk retention group industry to $3.8 billion. The Risk Retention ...

Vermont’s second Director of Captive Insurance Leonard “Len” Crouse passed away on May 6, 2021. Crouse led the Vermont Captive Division from 1990 to 2008. “Timing plays a big part in any successful venture, and Len was the right guy at the right time,” said Deputy Commissioner, Captive Insurance at State of Vermont David Provost. “He had the right combination ...