Global Hawk Insurance Company Risk Retention Group (Global Hawk) President and Treasurer Jasbir S. Thandi has pled guilty to two counts of conspiracy to commit insurance fraud. According to the Justice Department, Thandi faces a maximum statutory penalty of five years in prison and a $250,000 fine for each count of conspiracy to commit insurance fraud. Co-defendants Sandeep Sahota, Jaspreet …
Nevada Awarded $82.9 million in CTC Arbitration Proceedings
An arbitration panel awarded the State of Nevada $82.9 million in damages in proceedings against CTC Transportation Insurance Services of Missouri, LLC (CTC), according to the Twenty-Ninth Status Report filed on February 4, 2026. CTC was the program administrator for Spirit Commercial Auto Risk Retention Group (Spirit) which was placed into receivership by Nevada on February 27, 2019. Nevada later …
RRG Premium Surpasses $5 Billion in 2024: An Analysis by Business Sector
Risk retention group premium surpassed $5 billion for the first time in 2024, with premium for risk retention groups increasing by 8.7 percent to $5,450.3 million from $5013.7 million in 2023. This is the fourteenth consecutive year of risk retention group premium growth. Overall, 166 risk retention groups posted premium gains—with 17 risk retention groups reporting premium increases of more …