After the Nevada Supreme Court denied a petition for a writ of mandamus filed by then Nevada Insurance Commissioner Barbara Richardson in February of 2022, the liquidation proceedings for Spirit Commercial Auto Risk Retention Group (Spirit) have continued to work their way through arbitration, according to updates in the 21st Status Report (Status Report) filed by the Receiver in March of 2024.
The arbitration proceedings are currently proceeding against CTC Transportation Insurance Services of Missouri, LLC (CTC), the program manager and managing general agent for Spirit. Spirit was part of an insurance company holding system and primarily did business with other members of that system. Other entities in the holding company included Criterion Claims Solutions of Omaha, Inc. (Criterion), a third-party claims administrator; Chelsea Financial Group, Inc., which provided premium financing services; and 10-4 Risk Management, which provided risk management and loss run services.
Spirit was formed in Nevada in 2012 to provide commercial auto liability to truckers and small trucking companies. The company had gross written premiums of $66.7 million in 2018, making it one of the ten largest risk retention groups that year.
A 2019 investigative report by the Risk Retention Reporter identified Thomas Mulligan as the head of the insurance company holding system that included Spirit and CTC.
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