Cutts, who was also founder and publisher of the Risk Retention Reporter, passed away on 2 February after what was described as ‘a courageous seven-month battle’ with the disease, according to a statement from the publication.
The 69-year-old had been on medical leave since her diagnosis on 4 July 2009.
In the 24 years of the Risk Retention Reporter’s publication, Cutts developed a reputation as one of the foremost experts on the Liability Risk Retention Act (LRRA).
Since the inception of the LRRA in 1986 she forged close working relationships with insurance professionals, regulators and insureds, demonstrating a technical knowledge of the Act and a practical insight into state insurance department implementation that gave her unique insight into the risk retention group (RRG) industry.
Cutts was also a frequent speaker on the subject and author of articles in a wide range of insurance publications.
“This is a great loss for the entire captive industry. Karen is an icon in the RRG field,” said Wendy Fisher, director of Regulatory Affairs, Home Buyers Warranty Family of Companies and chair of the Board of Directors of the National Risk Retention Association.
“She was a wonderful expert, eager to share her knowledge and expertise with everyone. I will miss her wit and bubbly personality and her friendship.”
Dana G. Sheppard, associate commissioner, Risk Finance Bureau, in the District of Columbia Department of Insurance, Securities and Banking also paid tribute to Cutts, saying: “I will always remember Karen for her passion for RRGs and risk purchasing groups. Her work was invaluable to those of us who work with RRGs.”
Karrie Hyatt, assistant editor of the Risk Retention Reporter, who assumed Cutts’ role as editor when she became ill, has been appointed managing editor.
Karen Cutts will remain on the journal’s masthead as founding editor. Her husband James Cutts, now publisher of the Risk Retention Reporter, said: “I remain committed to Karen’s legacy. We will continue to serve the industry that she loved and sustain the standards of insightful and accurate reporting for which she was widely recognized.”
