Risk retention group domiciles reported strong premium growth in 2019, with nine of the top ten states posting premium gains. Overall, the RRG industry posted its largest premium increase in dollar and percentage terms since 2006, with premium increasing by 8.3% to $3,577.2 million. These gains in premium occurred even as the number of operational risk retention groups continued to …
VCIA Virtual Conference Around the Corner
The VICA 2020 Virtual Conference will be held from August 11-13. The virtual conference will feature a full slate of educational sessions, including a session on “What the Next Hard Market Means for RRGs” featuring Risk Retention Reporter Managing Editor Christopher Diemel, American Excess Insurance Exchange, RRG Vice President of Claims & Litigation Mollie K. O’Brien, and Nonprofits Insurance Alliance Chief Underwriting Officer Brian Johnson. In addition to …
LRRA May Preempt COVID-19 Orders of Non-domiciliary States
On April 13, 2020 California Insurance Commissioner Ricardo Lara issued Bulletin 2020-3 that required all property and casualty and workers compensation insurers to make an initial premium refund for the months of March and April to policy holders adversely impacted by the coronavirus. California is one of many states issuing such bulletins, but the National Risk Retention Association (NRRA) and …
Risk Retention Roundup—Physicians Casualty RRG Declared Insolvent
This month one new risk retention group was added to the Risk Retention Reporter listings, and six RRGs were deleted, taking the total number of RRGs down to 218. No new purchasing groups were added to the Risk Retention Reporter listings, and no PGs were deleted, leaving the total number of PGs at 1,022… This is an excerpt, for the …
Special Report: RRG Premium up 8.3% in 2019
Risk retention group premium increased by 8.3% to $3574.7 million in 2019, the largest increase in over a decade. Growth this year was distributed across all business sectors, apart from the now defunct Hospitality sector. The breadth and degree of growth suggest that the market was hardening over the course of 2019.This month’s special report is an analysis of 2019 …