One of the most significant ways the National Risk Retention Association (NRRA) supports its members as well as the entire risk retention group community is through its education and advocacy work for risk retention groups (RRGs) and risk purchasing groups (RPGs). Read a summary of some of the advocacy related work NRRA has done on behalf of all risk retention groups and risk purchasing groups in 2024.

Our Karen Cutts Award this year honors Derick’s thirty-five-plus years of service in the captive industry. He has worked in virtually every capacity as a CPA, auditor, regulator, Deputy Commissioner and Director of Captives.

This year’s Conference, creatively designed by our Conference Committee, and diligently anchored by my conference co-chair, Colin Donovan of STICO Mutual RRG, focuses in part on the AI Revolution in Insurance and RRGs, of course, blended in with our traditionally popular RRG educational sessions and round tables. 

When exploring the world of captive insurance, you may come across a unique business entity known as a Risk Retention Group (RRG). In this blog post, we’ll break down what an RRG is, its purpose, and the key distinctions between RRGs and conventional insurers.

Colin Donovan reports, “This year’s conference promises to be a creative and timely exploration into what the experts believe will be the management of expectations within our industry of the effects and impact of artificial intelligence (AI).”

NRRA plans its third visit to Florida as discrimination of Risk Retention Groups continues.

We have just been informed that one of two alternate proposed bills containing language drafted by NRRA has now passed both houses of the Florida Legislature and is being sent to the Governor for signature.

Following the Association’s scramble with the Florida Legislature this past Spring, and the death of the H57 & S516 Bills on May 6, 2023, NRRA has undertaken some proactive steps to create a more balanced effort to counteract the reputational challenges which RRGs have been needlessly encountering in the state.

This year, four Gamma Iota Sigma college students from The Katie School of Insurance and Risk Management at Illinois State University attended NRRA 2023, participating in NRRA conference sessions and networking with industry attendees to gain an in-depth exploration of the risk retention field and help build their future careers. Read their reflections on attending the conference:

From all your friends at the National Risk Retention Association, Godspeed, Brother "Ro!" Cicero (aka “Ro”) was a gift of pure joy to all of us he touched. A founding early member of our CRISP program for students, gifted with a sense of humor and a charisma that was larger than life, Ro could (and DID) work a crowd with the best of us.

In addition to fund-raising, NRRA continues its friend-raising: via a proactive effort to develop educational processes and alliances that will help support its efforts to find a legally fair and objective solution to the cause of this year’s earlier legislative crisis, as well as a favorable solution there for all RRGs in the state.

NRRA’s continuing campaign asserting its leadership role on both the regulatory and legislative battle fronts threatening RRGs includes planning in place for the upcoming legislative session this fall.

Following the conclusion of the 2023 Florida Legislative Session on May 5th, which ended without passage of Senate Bill 516, no time is being wasted waiting to see when the previously ill-conceived legislative phoenix might rise from the ashes there.

While the Bill successfully came out of every committee, including final passage by the House of Representatives, the legislative session ended as scheduled on Friday, May 5, 2023 with no action taken on Senate Bill 516.

THE “FIX” IS IN! – FLORIDA SB516 & H57 update. Committee votes on the bill are passing completely along partisan lines.

The Florida House Commerce and Senate Appropriations Committee hearings took place on Monday and Wednesday (April 10th & 12th) respectively. NRRA’s campaign efforts in opposition are already beginning to show some progress.

If passed, Florida Bill 516 will have a devastating impact on not only trucking and transportation risk retention groups registered in Florida, but actually every RRG writing commercial liability, including auto.

NRRA is now proactively engaged in opposing a very live bill in Florida with a proposed revision to Florida‘s motor vehicle law.

As RRGs Bounce Back, 2022 NRRA Conference Looks to the Future: A view of the NRRA Conference from the Risk Retention Reporter

It’s time to discuss the issues of today and tomorrow.