PASADENA, Calif.—Karen Cutts, founder, managing editor and publisher of the Risk Retention Reporter, died last week after a seven-month battle with pancreatic cancer.

Ms. Cutts, 69, founded the Pasadena, Calif.-based monthly newsletter soon after Congress passed legislation in 1986 allowing the formation of risk retention groups, which are specialized, multiple-owner captive insurance companies that can be established and do business nationwide after meeting the regulatory requirements of just one state.

For the next 24 years, Ms. Cutts covered a wide range of RRG-related developments, including the formation of new RRGs, the numerous legal battles between RRGs and state regulators, and efforts at the federal level to expand RRGs' underwriting authority. Currently, about 250 RRGs are operating.

“This is a great loss for the entire captive industry. Karen is an icon in the risk retention group field. She was a wonderful expert, eager to share her knowledge and expertise with everyone,” said Wendy Fisher, chair of the National Risk Retention Assn., in a statement.

Ms. Cutts is survived by her husband, James Cutts, now the publisher of the Risk Retention Reporter, and her two daughters.

The family suggests contributions can be made to the Pancreatic Cancer Action Network, www.pancan.org.