Captives, RRGs Standing Test Of Time
With the advent of another softening market–despite cries ofunderwriting discipline and rate adequacy–I have two questions:Will captives and risk retention groups lose their growingattractiveness of control and dependability because insurancepremiums are falling? Will New York Attorney General EliotSpitzer's probes inhibit the increasing acceptance captives andRRGs are enjoying?
The answers may depend on recognition of captives and RRGs aslegitimate business models founded upon matters of transparency andgovernance. As more and more states enact captive insurancestatutes and invest in human resources to regulate them, insurancebuyers reap the benefits of the diversity of captives and RRGs.
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