Article Excerpts
Breaking Down RRG State Registrations
September 7, 2021Risk Retention Reporter Managing Editor Christopher Diemel participated on a panel at the 2021 VCIA Virtual Conference entitled “Are RRGs a Mature Industry?” Other participants on the panel included Vermont Assistant Director of Captive Insurance Christine Brown, MCIC Vermont (A Reciprocal RRG) Chief Risk Officer Chris Heckman, and Recreation RRG Secretary and Risk Management Officer Tim Herr. While discussing the ...
Spirit Commercial RRG’s Total Unpaid Loss and LAE at $199 Million
August 4, 2021The tenth status report for the liquidation of Spirit Commercial Auto Risk Retention Group (Spirit) was issued by Special Deputy Receiver (SDR) Cantilo & Bennett, L.L.P. on July 7, 2021. The report includes the first estimate of unpaid liabilities at Spirit. Actuarial firm Oliver Wyman set the total unpaid loss and loss adjustment expenses for Spirit at $198.7 million. That ...
2020 Risk Retention Group Premium Growth Driven by Fewer Domiciles
August 4, 2021The risk retention group industry saw another strong year of premium growth in 2020, with premium increasing to $3838.3* million from $3581.5 in 2019, an increase of 7.2%. Growth in 2020 occurred in a lower number of domiciles—nine—than in 2019, when 13 domiciles reported increases in premium. 2020 premium growth was driven in part by newly formed or reactivated risk ...