In this edition of WRIN.tv’s Cyber Report, a Gartner study forecasts that 6.4 billion things will be inter-connected worldwide in 2016, with spending on support for the Internet of Things (IoT) to hit $235 billion. A cyber-security guru described the Internet of Things as “The Internet of Threats”, as the U.S. Federal Government says the global Internet of Things will …

Steve Crim is a founding partner of C&S Specialty Underwriters, specializing in commercial casualty risks. He speaks with WRIN.tv about the causes and impact of prolonged soft market conditions on the insurance industry. Mr. Crim says the soft market, caused by excess capital in the insurance system is putting pressure on insurance rates, negatively impacting underwriting margins. He believes “most …

Nancy Gray, a Regional Managing Director at Aon Insurance Managers, speaks with WRIN.tv about the growing complexity in the insurance industry due to emerging risks and regulation. According to Ms. Gray, the risks have grown more complicated. She notes that ten years ago we were not speaking about cyber risk and the many other emerging risks we see today. She …

WRIN.tv speaks with Siri Gadbois, President and CEO Educational & Institutional Insurance Administrators, about current market conditions and the future of the industry. She says conditions in the commercial and captive sectors are “flexible and low priced with a lot of capacity.” Ms. Gadbois believes the industry has moved away from the cyclical nature of pricing common years ago. While …

Tim Padovese, President & CEO at Ophthalmic Mutual Insurance (OMIC), speaks with WRIN.tv about Wisconsin legislation that will now allow RRGs to write healthcare liability cover. He notes that this landmark decision will allow the State’s ophthalmologists to gain access to important medical professional liability coverage and the risk management and claims services that will provide for better patient safety. …

Vermont bills itself as the “Gold Standard” of captive domiciles, with more than 1,000 captives, including 48 of the Fortune 100. WRIN.tv speaks with Sandy Bigglestone, Director of Captive Insurance for the State of Vermont, about how the State cultivates attracts captives and RRGs. Ms. Bigglestone notes that Vermont’s regulatory approach has been “perfected over the years.” She also believes …

Former NRRA chairwoman Rebecca Smart, discusses the challenges and progress she sees in regulation with regard to captives and risk retention groups (RRGs), particularly within the NIAC. She is Corporate Secretary & Legal Counsel for Lenders Protection Assurance Company. Ms. Smart has observed more acceptance of RRGs over time, while new standards and some new regulation continue to emerging within …

Jon Harkavy was involved in the passage of the Liability Risk Retention Act (LRRA) in 1986, and now serves on the Board of Directors of NRRA. He shares with WRIN.tv some evolution on the law, the impact on State regulation, and keys to effective regulation going forward. Since the passage of the Liability Risk Retention Act was passed, RRGs have …

WRIN.tv speaks with Michael Schroeder, co-founder and general counsel at Allied Professionals Insurance Company, about the court battles waged and won in defense of RRG rights with respect to the Liability Risk Retention Act, and battles yet to come. While the Liability Risk Retention Act was passed in 1986, no federal agency is responsible for oversight or regulation of the …

WRIN.tv speaks with Wendy Fisher, Director of Regulatory Affairs at New Home Warranty Insurance Company, about the regulatory environment surrounding Risk Retention Groups (RRGs). Over the past several years she has noticed a great deal of change in the involvement of the NAIC and State regulators, particularly in non-domiciliary States. She credits the National Risk Retention Association (NRRA) with being …

Dan Labrie, President and CEO of the Housing Authority Insurance Group, also serves as Chair of the National Risk Retention Association (NRRA) and is former Chair of the Captive Insurance Companies Association (CICA) and the Vermont Captive Insurance Association (VCIA). Mr. Labrie believes the increase in laws governing captives in various States is prompted by an increase in development of …

NAIC CEO Senator Ben Nelson gave the keynote address at the NRRA Annual Conference in Chicago. Here, he discusses his participation in the meeting and how relations between NRRA and the NAIC could improve going forward. Senator Nelson was happy to participate in the meeting to help build a better understanding between NRRA and RRGs and the NAIC and State …

Joe Deems, Executive Director at the National Risk Retention Association (NRRA) joins WRIN.tv from the 2015 NRRA Conference in Chicago. Here, he outlines the challenges faced by Risk Retention Groups (RRGs) in the current market, hopes for a better dialogue between NRRA and the NAIC, and the value of gatherings like the NRRA Conference in improving RRG performance. Mr. Deems …

In this edition of “Issues in Risk Retention”, Jim Cutts, Editor and Publisher of The Risk Retention Reporter, joins host Joe Deems, Executive Director of the National Risk Retention Association (NRRA), for a discussion on the state of the Risk Retention Group (RRG) industry. Mr. Cutts notes that there were only ten new RRGs formed in 2014. He believes the …

Steve Eilers, Manager of Gen Re’s L.A. operation, speaks with WRIN.tv about the property facultative reinsurance market, the tropical storm season and government insurance programs. He says market conditions in the property fac market are “competitive.” Mr. Eilers says Gen Re is seeing clients take more net in treaties, which is creating opportunities in the fac market. He sees ceding …

In part two of this edition of “Issues in Risk Retention”, host Joe Deems, Executive Director of the National Risk Retention Association (NRRA) continues his discussion with NAIC CEO Senator Ben Nelson. Here, he reviews the NAIC’s role in Federal and international insurance regulation, Captiva and RRG accreditation, and better ways to resolve RRG issues outside the Courts. Given the …

Wes Robinson, National Property President at Risk Placement Services (RPS), discusses the state of the E&S property insurance market with WRIN.tv during the recent NAPSLO Convention. He says the market conditions in the surplus property market as “very soft.” For the past several years property rates have been declining. This past year saw significant declines, particularly in the catastrophe market. …

Joe Louwagie, AVP at Property Claim Services (PCS-a Verisk Analytics business), joins WRIN.tv to assess the 2015 Nat Cat season, its impact on the insurance, reinsurance and capital markets, and how developments in data management and technology are affecting risk and claims management. Mr. Louwagie says the current Cat season continues a trend PCS has seen for the past few …

In this edition of “Issues in Risk Retention”, NAIC CEO Senator Ben Nelson joins host Joe Deems, Executive Director of the National Risk Retention Association (NRRA). In part one of a two-part interview, Senator Nelson addresses regulatory issues related to Captives and Risk Retention Groups (RRGs), misinterpretations of the Liability Risk Retention Act (LRRA), and legislation that would expand the …

Ed Kelly, President & CEO of the American Association of Insurance Services (AAIS), speaks with WRIN.tv about data and technology, ‘price optimization’, and new product development. Mr. Kelly sees two sides to the data issue: how to protect it, and how to use it appropriately in a business like insurance, including price optimization.” He acknowledges the regulatory debate over price …