Christopher William Diemel
– Managing Editor & Publisher
The Latest
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 ...
Vermont Captive Insurance at 40: A Look Back at the History and the People
June 1, 2021Vermont is celebrating its 40th anniversary as a captive domicile this year. The Risk Retention Reporter spoke with captive managers and regulators to trace the history of Vermont as a captive domicile, from the years leading up to the passage of Special Insurer Act of 1981 to the emergence of risk retention groups in 1987 through to the work being ...
Management and Regulators Contribute to Spirit Commercial RRG’s Mounting Troubles
May 3, 2021Editor's Note: This article is a reprint of an investigative report that ran in the February 2019 issue of the Risk Retention Reporter. In April 2021, liquidation proceedings involving Spirit Commercial Auto Risk Retention Group were appealed to the Nevada Court. This article was cited in the Writ of Mandamus filed by Nevada Commissioner of Insurance Barbara Richardson. Given that, ...