Captives

Insurers constantly hear policyholders bemoaning that their brakes failed, the accelerator stuck, a tire detached, and similar allegations of malfunction, but what really happened?

A year-long legal battle with Nevada regulators has paid off for a risk-retention group in the form of a decision that should set a precedent for all RRGs, a trade association says.

A year-long legal battle with Nevada regulators has paid off for a risk-retention group in the form of a decision that should set a precedent for all RRGs, a trade association says.

The Prudential New Jersey Captive Insurance Co. (NJCAP) has been approved as the first captive insurer to be licensed in the state, according to the New Jersey Department of Banking and Insurance.

The Prudential New Jersey Captive Insurance Co. has been approved as the first captive insurer to be licensed in the state, according to the New Jersey Department of Banking and Insurance.

An amendment to the federal Liability Risk Retention Act that would allow inclusion of commercial-property coverage in risk-retention groups has been introduced in the House of Representatives and awaits further action, according to the office of Rep. Peter Welch, D-Vt.