Types of Captives

  Gavel and Statute Section Symbols-SF

Risk Retention Group Expansion: A Modest Yet Critical Proposal

A new drive is about to begin aimed at convincing Congress to pass legislation to expand the coverages risk retention groups can provide to member-owners. The legislation is expected to be similar to a measure introduced during the last congressional session that would have allowed certain risk retention groups to cover policyholders' property risks.
July 31, 2017 Read More
  Building Blocks-SF

Risk Retention Groups: A Basic Overview

A risk retention group (RRG) is a captive insurance company formed pursuant to the federal Liability Risk Retention Act. This article discusses some of the basics of RRGs, including differences between RRGs and other types of captives.
April 12, 2017 Read More
  One Two Three 480x377

The 3 Categories of Risk Retention Groups

A panel discussion on corporate governance of risk retention groups (RRGs) at the 2017 Captive Insurance Companies Association (CICA) Conference provided a useful way to categorize RRGs. RRGs can be divided into one of three categories based on whether there is a sponsor and, if so, the type of sponsor.
March 28, 2017 Read More
  Gavel and Statute Section Symbols 480x377

NRRA Files Amicus Brief in Restoration RRG Appeal

The National Risk Retention Association filed an amicus curiae brief in support of Restoration RRG in its recent court appeal, challenging the Wisconsin Department of Safety and Professional Services for discrimination against risk retention groups.
March 21, 2017 Read More
  Uncertainty for Captives-SF

831(b) Micro-Captive Challenges

Currently, there is great uncertainty as to how the Internal Revenue Service's challenges to micro-captives will be resolved. With this in mind, a panel of captive insurance experts discussed ways to mitigate the challenges during last month's 2017 World Captive Forum.
February 08, 2017 Read More
  Upward Trend-SF

Cells and Series Captives Growth Update

There has been more than 16 percent growth in cell and series captives in the eight domiciles served by Strategic Risk Solutions. This article reviews the numbers in the domiciles.
February 06, 2017 Read More
  Company Percentages-SF

Group Captives, Cell Captives, and Risk Pooling Arrangements Guide

Multiple participant captive insurance companies can take a number of forms, such as group captives and cell captives. Learn the basics of these types of captives as well as how they sometimes share risks for various reasons.
February 01, 2017 Read More
  Montana Flag

Montana RRG CareConcepts Is in Liquidation

On May 23, 2016, the Office of the Montana State Auditor, Commissioner of Securities and Insurance (CSI), suspended the license of CareConcepts Insurance, Inc., a risk retention group (RRG), allowing the Insurance Department to take control and supervise CareConcepts. On August 8, 2016, the Montana CSI issued a court order, signed by a Montana District Court Judge, to commence liquidation of CareConcepts. On August 10, 2016, CareConcepts was placed into liquidation. Michael J. FitzGibbons, president of FitzGibbons and Company, Inc., was appointed as special deputy liquidator on August 22. Claims against CareConcepts have a deadline of March 31, 2017.
November 08, 2016 Read More
  Court Ruling Gavel

Rehearing Requested for LRRA Preemption Ninth Circuit Court Decision

The U.S. Court of Appeals for the Ninth Circuit upheld the federal Liability Risk Retention Act (LRRA) preemption status in September 2016 in Attorneys Liability Protection Society, Inc. v. Ingaldson Fitzgerald, P.C., Nos. 13–35115, 13–35172, 2016 U.S. App. LEXIS 17396 (9th Cir. 2016).
October 28, 2016 Read More
  Court Ruling Gavel

NRRA Advocacy for RRGs under the Liability Risk Retention Act

In 1986, Congress passed the Liability Risk Retention Act (LRRA). This Act allows homogeneous groups to form a risk retention group (RRG) in order to write liability insurance coverage. Its policyholders are the owners.
October 13, 2016 Read More
  Attendees Applauding

Offshore Group Captive Insurance Success Achieved by Raffles Insurance Limited

A.M. Best recently affirmed the Financial Strength Rating of A- (Excellent) of Raffles Insurance Limited, a group captive, according to an A.M. Best press release.
October 10, 2016 Read More
  Long-Term Care Facility

Sunland Risk Retention Group, Inc., Rating and Organizational Structure Explored

Sunland Risk Retention Group, Inc., has recently earned a Demotech, Inc., Financial Stability Rating (FSR) of A, Exceptional.
September 28, 2016 Read More
  Drought Coverage

Captive Insurer Helps African Nations Respond to Climate Change

The African Risk Capacity Insurance Company Limited (ARC Ltd), a Bermuda-domiciled captive insurer, is an African natural disaster insurance pool. This creative captive venture was created by the African Union entity African Risk Capacity (ARC).
September 19, 2016 Read More
  Behind the Curtain

Risk Retention Group Issues Focus of VCIA Conference Session

The federal Liability Risk Retention Act (LRRA), allowable coverages, domiciliary and nondomiciliary state regulators' roles, governance standards, and key court cases and how these topics relate to risk retention groups (RRGs) were explored in depth during a Vermont Captive Insurance Association (VCIA) 2016 Annual Conference educational session this week.
August 10, 2016 Read More
  Medical Apparatus

Risk Retention Group for Anesthesiologists Results Shine

Last week, A.M. Best upgraded the financial strength rating of Preferred Physicians Medical Risk Retention Group, Inc. (PPM), from A- to A.
July 20, 2016 Read More
  Conservation Land

Risk Retention Group for Land Trusts Fills Coverage Need

To help its members overcome the difficulty of obtaining coverage, the Land Trust Alliance formed Terrafirma Risk Retention Group LLC in 2012 under the Federal Liability Risk Retention Act of 1986, and it started writing coverage in 2013.
July 01, 2016 Read More
  Industry Growth Featured News

Group Captive Signs Point Toward Growth, Young Says

Brady Young, president and chief executive officer of captive management firm Strategic Risk Solutions, Inc. (SRS), writes that management of group captives does not show signs of decline. In fact, he says, there is still growth in group captives.
June 06, 2016 Read More
  Captives Thrive

Group Captives Will Continue To Survive and Thrive, Rosenbaum Believes

Hugh Rosenbaum, "Captive Insurance Company Reports" editor emeritus and Captive.com Thought Leader, offers a different perspective in response to a recent Captive.com analysis suggesting signs point to the end of an era for group captives.
June 01, 2016 Read More
  End of an Era

Group Captives—Signs May Point to End of Era

Over the first 5 months of 2016 we have highlighted a number of global trends that have implications for captives. Looking at the potential convergence of these factors got us thinking about why these issues may well signal the end of an era for group captives.
May 26, 2016 Read More
  Long-Term Care Facility

Caring Communities RRG: A Financial Success Story

The 2015 financial results of Caring Communities, a Reciprocal Risk Retention Group (RRG) are impressive.
May 11, 2016 Read More