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 …

David Kodama, Senior Director for Research and Policy Analysis at PCI, speaks with WRIN.tv about the opportunities for insurers arising due to technological advances, cyber risk, natural catastrophes, telematics and the “sharing economy.” He also reviews PCI’s role in regulation, public awareness and risk mitigation. Mr. Kodama notes that technological advances have propelled the U.S. economy. While innovations have created …

John Horton, EVP and Chief Marketing Officer at AMRISC, speaks with WRIN.tv about lessons learned in ten years since Hurricane Katrina, the still-softening property insurance market, alternative capital, big data risks and more. Ten years after Katrina, and beyond the human tragedy and poor government response, the insurance industry has seen many changes in demand surge and storm surge. Demand …

Risk Placement Services (RPS) President Joel Cavaness discusses the company’s acquisition strategy, the effects of El Niño and the Affordable Care Act on the insurance industry, cyber risk and more, during the recent NAPSLO Convention in San Diego. Mr. Cavaness acknowledge the effects of the changing weather patterns on heat, flooding and the types of storm activity the U.S. is …

Matt Power, EVP and Head of Strategic Development at Lexington, joins WRIN.tv to discuss the global economy, the ten year anniversary of Katrina, the Affordable Care Act and emerging risks from cyber-attacks, drones and more. When Mr. Power considers the economy, he focuses on how technology and globalization have created tremendous “connectivity.” He points to the impact of Greece and …

According to Jamie Miller, Head of Property North America at Swiss Re, the biggest factors driving market conditions in the property market are over capacity driven by a lack of natural catastrophe losses. He sees a large number of carriers entering the excess and surplus (E&S) lines market as a result. With favorable market conditions and low cat losses, oversupply …

WRIN.tv Speaks with NAPSLO Executive Director Brady Kelley during the recent NAPSLO Convention in San Diego, about market condition, innovation, talent in the industry and his concerns about the future. Mr. Kelley describes market conditions in the surplus lines as “very strong” with an abundance of capital and a relatively long break from significant catastrophes or loss events. He quotes …