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Recreation Insurance Organization ("RIO")

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In July 2023, research and analysis culminated in the formation of the Recreation Insurance Organization ("RIO"); a non-profit corporation, wholly owned and controlled by the California Association for Park and Recreation Indemnity ("CAPRI"), solely for the benefit of members.

RIO is a tax-exempt, pure captive, domiciled in the state of Utah and is regulated by the Utah Department of Insurance. RIO only insures risk from its parent entity and currently covers portions of CAPRI’s liability, workers’ compensation, and property programs.

Strategic Objectives

Members of CAPRI benefit from RIO primarily in three ways:

  • Lower Cost of Coverage
  • Less Dependence on Commercial Insurance Markets
  • More Efficient Use of Capital

Lower cost of coverage is achieved through long-term reinsurance premium stabilization and through increased actuarial discount rates, which also provide a short-term benefit in pricing. Less dependence on commercial insurance means less sensitivity to market cycles and an improved capability to customize coverage. It also positions CAPRI to retain some of the underwriting profits that were previously ceded to carriers. Lastly, RIO provides a vehicle for capital to be used more efficiently. This is accomplished through broader diversification of investments and a greater spread of asset and credit risk across non-correlated asset classes. Expanded investment operations also improves CAPRI’s ability to match the duration of assets and liabilities.


The RIO Board is appointed by the CAPRI Board and is composed of six members: two CAPRI Staff, three CAPRI Board Members, and Utah legal counsel.

  • Matthew Duarte
  • Monica Breck
  • Dean Wetter
  • Colin Miller
  • Jim Friedl
  • Brent Andrewsen