After Successful Leaders Summit, NRRA Looks to Fall Conference

The National Risk Retention Association (NRRA) held its third annual Leader’s Summit virtually from February 9 to 10, 2021. With attendance at the Leader’s summit up this year, and interest in risk retention groups increasing due to the hard market, NRRA is now looking to its Fall Conference and the hope of meeting in-person.

EPIX RRG Placed in Rehabilitation

Emergency Physicians Insurance Exchange Risk Retention Group (EPIX RRG) was placed in rehabilitation by the Vermont Superior Court for Washington County (the Court) on February 26, 2021. Vermont Department of Financial Regulation (Vermont DFR) Commissioner Michael S. Pieciak was appointed as the Rehabilitator.

RRGs Show Long-Term Success Across Most Business Sectors

As the risk retention group industry emerges from a protracted soft market that contributed to a significant decline in operational RRGs, it is important to recognize the long-term success the industry has exhibited across most business sectors. There are 37 risk retention groups that have been active for over 20 years, representing 17% of active risk retention groups.

Analysis of RRG Age at Time of Insolvency

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 …

CICA Conference Canceled

The Captive Insurance Companies Association has canceled its 2021 Conference which had been set to occur from March 14-16 in Scottsdale, Arizona. CICA is currently working to adapt the sessions that would have been held at the conference into a new Digital Education Series.“We hoped things would improve to make it possible to host an in-person conference. Unfortunately, Arizona has …

Julie Bordo on Navigating the Pandemic as a Long-term Care Insurer

In late February 2020, the first death from the coronavirus was reported at a nursing home in Kirkland, Washington. A little over a month later, according to reporting by the New York Times, two-thirds of the center’s residents had contracted the disease, along with 47 of the center’s employees. By the end of March 2020, 35 deaths were tied to …

Historical Composition of RRGs by Business Sector

The emergence of the hard market, and the disruption of the long-term care industry by the coronavirus pandemic, will likely lead to increased risk retention group activity in the long-term care subsector of the Healthcare sector. Although there are currently 18 active risk retention groups serving the nursing home and long-term care business sector, the first of those groups didn’t …

Ninth Circuit Sends CCRRG Case to Arizona Supreme Court

The United States Court of Appeals for the Ninth Circuit (Ninth Circuit) issued an order certifying questions to the Arizona Supreme Court in the case Benson v. Casa De Capri Enterprises, LLC (Benson), a case in which Continuing Care Risk Retention Group, Inc. (CCRRG) is the real-party-in-interest. The United States District Court for the District of Arizona (District Court of …

Excerpt from Guide to RRGs and PGs

Besieged by pleas from business people and municipalities across the United States who were unable to obtain or afford liability insurance during the mid-1980’s, Congress responded by enacting amendments to the 1981 Product Liability Risk Retention Act. The new legislation, known as the Federal Liability Risk Retention Act of 1986 (LRRA), created two vehicles by which insurance buyers could more …

Supreme Court Refuses to Review Anglesey Decision

The Supreme Court of the United States (Supreme Court) has refused to review the Allied Professionals Ins. Co. RRG v. Anglesey (Anglesey) decision filed on March 12, 2020 in the United States Court of Appeals for the Ninth Circuit (Ninth Circuit). The Anglesey decision affirmed the preemptive qualities of the Liability Risk Retention Act (LRRA), specifically that the LRRA preempted …