WASHINGTON, DC--(Marketwire - October 6, 2010) - The National Risk Retention Association's first annual Karen Cutts Visionary Award has been given posthumously to Karen Cutts at the Association's annual conference here, Kim Wynkoop, NRRA Chair, announced. The Cutts Award will be given each year to an individual who has made an outstanding contribution to the Risk Retention Group and Purchasing Group liability insurance industry.
RRGs are authorized by Congress to write liability insurance nationally when licensed in a single state. They have grown into a major sector of the insurance industry with 246 companies that write $2.5 billion premium.
Karen Cutts founded the industry's authoritative journal, Risk Retention Reporter, in 1987 and was its Editor and Publisher until her death in 2009. The award was accepted in Karen Cutts' memory by her husband, James Cutts, Publisher of the journal.
"Cutts maintained the publication as an independent monitor of regulatory, legislative, and market developments with an unwavering commitment to accuracy, objectivity, and integrity. She was devoted to the promotion and recognition of Risk Retention Groups as affordable and financially sustainable vehicles for insuring liability risks and was a leader in building the stature of the industry," Wynkoop said.
NRRA is the trade association that represents the interests of Risk Retention and Purchasing Groups as practical, economical, efficient, and financially sound options for insuring liability risks.
Contact Information:
For more information, contact
Mechlin Moore
NRRA Communications Director
239-777-1595