Besieged by pleas from business people and municipalities across the United States who were unable to obtain or afford liability insurance during the mid-1980’s, Congress responded by enacting amendments to the 1981 Product Liability Risk Retention Act. The new legislation, known as the Federal Liability Risk Retention Act of 1986 (LRRA), created two vehicles by which insurance buyers could more …
Ninth Circuit Sends CCRRG Case to Arizona Supreme Court
The United States Court of Appeals for the Ninth Circuit (Ninth Circuit) issued an order certifying questions to the Arizona Supreme Court in the case Benson v. Casa De Capri Enterprises, LLC (Benson), a case in which Continuing Care Risk Retention Group, Inc. (CCRRG) is the real-party-in-interest. The United States District Court for the District of Arizona (District Court of …
Hard Market Drives New Captive Formations, RRG Premium Growth
Captive domiciles nationwide have released their data on captive formations for 2020. The data points towards strong captive formations in most established domiciles, though formations of risk retention groups in those domiciles have remained low. Hard market conditions are likely contributing to the growth in captives, and though RRG formations are low, RRG premium will likely see significant growth in …