Ten Year Review of RRG Activity

Introduction When I began my time at the Risk Retention Reporter in February of 2013, the risk retention group industry was coming off a near record high of 261 operational risk retention groups. The 2000s had just ended, when the number of operational RRGs had surged from 65 in 2000 to 262 in 2008. The growth in the 2000s was …

Vermont District Court Denies Crowe’s Motion to Dismiss

Editor’s Note This is going to be a long article—quite a bit longer than I initially imagined. However, the issues raised in the case are of importance from the perspective of both regulators and service providers. Furthermore, many of the issues raised in this case are not matters of settled law. The case revolves around audit work Crowe LLP conducted …

Pinnacle Actuarial Resources Release 2022 RRG Study

Pinnacle Actuarial Resources (Pinnacle) has released its 2022 Risk Retention Group Benchmarking Study. The report, which provides a comprehensive breakdown of RRG financials, finds that, collectively, risk retention groups tend to be better capitalized than the overall insurance industry. The report also provides insights into RRG investment patterns and RRG activity across different non-domiciliary states. “There has been a noticeable …

NRRA Conference Recap—Provost Receives Karen Cutts Award

The National Risk Retention Association Conference (NRRA) conference was held from November 1 to 3 at the Sofitel Hotel in Chicago, Illinois. The conference brought together the RRG industry for networking and educational sessions focused on the risk retention group industry. One of the highlights of the conference was recently retired Vermont Deputy Commissioner David Provost receiving the Karen Cutts …

AM Best Revises Outlook for Western Pacific RRG

AM Best has revised the outlook to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” for Western Pacific Mutual Insurance Company Risk Retention Group (WPMIC).WPMIC was formed in 1990 by home builders who are members of Pennsylvania-based Residential Warranty Corp. (RWC). Membership in RWC is required to the …