NRRA-In-Vision is the new branding initiative for all NRRA content and activities, under which NRRA will unify all its efforts including conferences, online presentations, regulatory and judicial advocacy, and education. It also encompasses, enhances, and provides an overarching context for all NRRA initiatives, as NRRA works to improve and expand the creative opportunities for RRGs and RPGs.
The Template for Success
Our thanks to the Risk Retention Reporter for the data information supplied to create this series.
Episode 1 – The Formative Years – 1986 to 1992
Congress creates a Revolution with the Liability Risk Retention Act and the Evolution of risk retention groups (RRGs) and risk purchasing groups (RPGs) begins. With many states initially trying to get in on the act, entities experiment with formations of both RRGs and RPGs, with mixed results. Meanwhile, our featured RRG in this episode, Mental Health RRG, challenged by the hard market, explains how it began and continues to successfully maintain itself as one of the earliest and most successful RRGs for over 36 years to the present, despite numerous changes in the market place.
Speakers: Chris Diemel, Risk Retention Reporter, and Nicholas Bozzo, Mental Health RRG
Episode 2 – Evolution and Growing Pains – 1992 to 2002
The Empire Strikes Back. No doubt prompted by the Revolution, the traditional insurance industry spawns a major “soft market,” characterized by predatory pricing threatening the survival of the young companies. Some RRGs and states retract, leaving only two domiciles. Our featured company in this episode, Owner Operator Independent Drivers Association (OOIDA), founded as an independent trucker’s advocacy group 23 years before the LRRA was passed, fighting unfair legislation and overregulation, seized the opportunity to develop more creative offerings for its members, e.g., lobbying, education, publications and even a Sirius XM radio show. Learn how the RRG insurance company became the perfect program to add to OOIDA’s menu of ancillary services causing its successes to date.
Speakers: Chris Diemel, Risk Retention Reporter, and Rod Nofziger, OOIDA RRG