BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

R+L Carriers receives final approval to fund benefit risks through captive


WASHINGTON—The Labor Department has given final approval to a freight carrier’s plan to fund employee benefit risks through a captive insurer.

Under the arrangement, Wilmington, Ohio-based R+L Carriers Shared Services L.L.C. will use Royal Assurance Inc., a captive licensed in Arizona, to reinsure accidental death and dismemberment benefits, life, and long-term and short-term disability risks that are insured by a unit of Unum Group.

Royal Assurance is owned by members of the family that founded the freight carrier, which has about 9,000 employees.

R+L’s application was filed by George O’Donnell, senior vp with Aon Hewitt in Somerset, N.J.

The Labor Department approval—known as a final exemption and published in Thursday’s Federal Register—followed its final authorization earlier this week of a Microsoft Corp. proposal to expand benefit risks funded through the Vermont branch of its Bermuda-based captive insurer.