The recent insolvency of Emergency Physicians Insurance Exchange RRG (EPIX RRG) is notable as the company had been active for 17.6 years before entering insolvency, the second longest span of operation for an RRG that has been declared insolvent. The insolvency of Global Hawk Risk Insurance Company Risk Retention Group (Global Hawk) in Vermont last year is also an outlier with the company operating for over 16 years before entering liquidation.
On average, risk retention groups that enter insolvency do so after 7.5 years of operation. The RRG with the longest span of operation before insolvency was the Cayman Islands-domiciled National Warranty RRG which was formed under the 1981 Product Liability Risk Retention Act. National Warranty RRG entered insolvency in 2003 after 22.8 years of operation.
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