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About AIRROC

The Association of Insurance & Reinsurance Run-Off Companies (AIRROC) was started in 2004 when a handful of companies with run-off books came together to voice their common concerns associated with run-off and their desire to work together to identify ways to find solutions to their common problems. After several meetings, they had the critical mass to go forward and AIRROC was incorporated 12/14/04.

AIRROC, a US based non-profit association, is an organization of companies that have legacy business in their portfolio. Membership is on a corporate level and given the impact and importance of legacy business to the entire industry, AIRROC has attracted many talented and experienced participants. The Association has 47 members, including major US and international insurance and reinsurance companies, well-known rehabilitations, receiverships and liquidations that impact a significant portion of US and overseas business, brokers, third-party administrators and run-off managers that handle business for the risk bearing companies. AIRROC also welcomes entities that aren’t eligible for membership to get involved with supporting our initiatives as Corporate Partners. The organization’s 15-member board of directors, in conjunction with the association’s Executive Director, manages and executes AIRROC’s affairs with the assistance of specially designated officers of the Association.

MISSION STATEMENT

BYLAWS

AIRROC operates with the following committees, through which current market practices and procedures are addressed and evaluated, appropriate benchmarks and matrices to measure performance are set and various methods and strategies to ensure success are explored:

  • DRP (Dispute Resolution Process) Committee
  • Education Committee
  • Finance Committee
  • Marketing and Member Recruitment Committee
  • October Event Committee
  • Publication Committee

AIRROC’s Activities and Benefits to Members Include:

  • Access to AIRROC's Dispute Resolution Process (DRP) and arbitrators, which is a lower cost, streamlined way to resolve disputes using a single arbitrator.  The AIRROC arbitrator list includes 60+ experienced and well-known arbitrators that have agreed to assist with resolving disputes under the DRP for only $150 hourly. 
  • Approximately 8 events per year with no additional registration fees for AIRROC Members.  Anyone from the company can attend and CLE credits are offered for attorneys.   
  • Workshops on claims, reinsurance and disputes resolution processes and tools.
  • One registration for the NJ Rendez-Vous is included with the membership fee - subsequent registrants pay only $595.
  • AIRROC meetings draw an attendee base of mostly risk carriers (65-70%) in addition to lawyers and consultants.
  • Networking via 3 annual membership meetings and the AIRROC website which allow members to:
    • Address collection of overdue balances
    • Have frequent meetings with counter parties
    • Set to an announced and routine calendar  (March, July, Oct every year) to progress disputes, collections and commutations
    • AIRROC meetings are in locations that facilitate connections with other parties (New York, Chicago, Philadelphia, Boston, Hartford, London).
  • Quality education with global experts on a variety of issues – claims, legislative, international, arbitration, litigation updates, emerging issues - in 2013 96.5% of our attendees ranked the programs excellent or very good.