Vermont has been the leading risk retention group domicile since the passage of the Liability Risk Retention Act in 1987. In addition, since Vermont passed its captive law in 1981, just four individuals have headed the captive division of the Vermont Department of Financial Regulation (Vermont DFR).Ed Meehan was the first director of captive insurance in Vermont. Len Crouse took …
RRGs Report Second Quarter Surplus Declines as per Demotech Report
Demotech, Inc. has released its report “Analysis of Risk Retention Groups—Second Quarter 2022.” The report finds that while RRGs continue to exhibit “a great deal of financial stability,” difficult conditions in financial markets have contributed to a deterioration in a number of financial ratios and a decrease in policyholders’ surplus. From the period from the second quarter 2021 through second …
Nancy Gray and the Continued Legacy of NRRA’s Diverse Leadership
By Joseph Deems, NRRA Executive Director Over the course of the last decade and a half, the National Risk Retention Association (NRRA) has had eight chairs, four have been women and four have been men. In our present environment, while we all talk about diversity and inclusiveness, in doing so, we sometimes overlook the opportunity to demonstrate how some people …
As RRGs Bounce Back, 2022 NRRA Conference Looks to the Future
The theme of the 2022 NRRA Conference is “Envisioning a Purpose Driven Future.” The Conference will be held from November 1 to November 3, 2022, at the Sofitel Magnificent Mile Hotel in Chicago, Illinois. This year’s conference comes after one of the strongest years for RRG activity on record. At the end of 2020 there were 215 operational risk retention …