Supreme Court Refuses to Review Anglesey Decision

The Supreme Court of the United States (Supreme Court) has refused to review the Allied Professionals Ins. Co. RRG v. Anglesey (Anglesey) decision filed on March 12, 2020 in the United States Court of Appeals for the Ninth Circuit (Ninth Circuit). The Anglesey decision affirmed the preemptive qualities of the Liability Risk Retention Act (LRRA), specifically that the LRRA preempted …

Nevins Looks to Continue Vermont’s Status as the ‘Gold Standard’

The Vermont Department of Economic Development announced that Brittany Nevins had been hired as the Captive Insurance Economic Development Director for the State of Vermont in September 2020. In her position, Nevins will direct the marketing and business development efforts of the Vermont captive insurance industry. Nevins replaces Ian Davis, who left his position earlier this year. Vermont is the …

Lessons from a Higher Education Captive: 3 Proven Ways to Help Members Navigate the Pandemic

As the coronavirus pandemic has decimated large swaths of the economy, higher education has been hit particularly hard. Many colleges and universities were already experiencing shaky finances before COVID. Sixty percent of schools missed their fall 2019 enrollment goals according to a February 2020 Chronicle of Higher Education story. Changing demographics and drops in international enrollment are cited as primary …

Risk Retention Roundup December

This month one new risk retention group was added to the Risk Retention Reporter listings, and one RRG was deleted, leaving the total number of RRGs at 214. No new purchasing groups were added to the Risk Retention Reporter listings, and no PGs were deleted, leaving the total number of PGs at 1,024.

CICA Rules Out Virtual Conference

The 2021 CICA International Conference is currently scheduled for March 14 to 16 at the Westin Kierland in Scottsdale, Arizona. CICA President Dan Towle wrote in a December 3, 2020 email that although there is a significant chance of the in-person conference being canceled, there are no plans to hold a virtual conference. “What I, and our CICA leaders, have …

NRRA Cancels February In-Person Conference, Moves Leaders Summit Virtual

The National Risk Retention Association (NRRA) has cancelled an in-person conference that was scheduled for February 2021, in Beverly Hills, California. NRRA plans on holding  an in-person conference in the Fall 2021.  NRRA is moving its RRG Leaders Summit to a virtual platform with the summit being held from February 9-10, 2021. The Leader’s Summit is an invitation only event. …

RRGs Financially Stable in Q3 Demotech Report

Demotech, Inc. published its report Analysis of Risk Retention Groups – Third Quarter 2020 on December 8. The report finds that risk retention groups collectively continue to exhibit a high degree of financial stability

Can RRGs Meet the Need for Commercial Auto Coverage?

The Transportation sector continues to drive new risk retention group formations. Of the eight new risk retention group formations thus far in 2020, five are Transportation risk retention groups. This suggests there is a need for commercial auto liability coverage, much as there was a need for medical professional lines of coverage in the years following the passage of 1986 Liability …