May 1, 2013
RISK RETENTION MARKET QUIET IN FIRST QUARTER
The risk retention market is on a plateau with only two new RRGs formed and six retired in this year's first quarter, according to the Risk Retention Reporter's Quarterly Journal. Since 2009, new formations have been running between three and four while the number of RRGs retiring averaged seven. Some insurance industry observers see signs that the general insurance market is beginning to harden, but so far there has been little effect on RRGs. "Risk retention groups are slow to form at this stage and without a drastic change in the traditional market or a sudden change in the regulatory or legislative environment, this trend is likely to last for some time," Karrie Hyatt, editor of the Journal, predicted.
April 19, 2013
NRRA VICE-CHAIR NOFZIGER ELECTED CHIEF OPERATING OFFICER OF OOIDA
In a press release issued by the Owner Operator Independent Drivers Association (OOIDA) on April 17, it was announced that NRRA Vice-Chairman, Rod Nofziger, has been elected by the OOIDA Board of Directors to the position of Chief Operating Officer of the Association.
Previously, Nofziger worked out of OOIDA's D.C. office where he served as the Director of Government Affairs. In that role, he led efforts to advocate for the interests of the Association's membership on Capitol Hill and with federal agencies
Click here for the full press release.