Risk Retention Groups
Risk Retention Groups

Author: Richard J. Hillman

Publisher: DIANE Publishing

Published: 2006-02

Total Pages: 118

ISBN-13: 9781422303702

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Risk retention groups (RRG) increase the avail. & affordability of commercial liab. insur. An RRG is a group of similar bus. that creates its own insur. co. to self-insure its risks. Through the Liab. Risk Retention Act (LRRA), Congress partly preempted state insur. law to create a regulatory framework for RRGs. Recent shortages of affordable liab. insur. have increased RRG formations, but recent failures of RRGs raised questions about the adequacy of RRG reg. This report: examines the effect of RRGs on insur. avail. & affordability; assesses whether LRRA's preemption has resulted in significant regulatory problems; & evaluates the sufficiency of LRRA's ownership, control, & governance prov. in protecting the best interests of the insureds.

Risk Retention Groups
Risk Retention Groups

Author: U.s. Government Accountability Office

Publisher: Createspace Independent Publishing Platform

Published: 2017-08-10

Total Pages: 58

ISBN-13: 9781974437719

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Congress authorized the creation ofrisk retention groups (RRG)a groupof similar businesses that creates itsown insurance company to insure itsriskto increase the affordability andavailability of commercial liabilityinsurance. Through the Liability RiskRetention Act (LRRA), Congresspartially preempted state insurancelaws to allow RRGs licensed in onestate (the domiciliary state) to operatein all other states (nondomiciliarystates) with minimal additionalregulation. In a 2005 report(GAO-05-536), GAO noted concernswith the adequacy of RRG regulation.This report (1) describes changes inthe financial condition of the RRGindustry from 2004 to 2010;(2) examines the regulatory treatmentof RRGs across domiciliary andnondomiciliary states; and(3) examines changes to federal andstate regulatory practices regardingRRGs since 2004. GAO analyzedRRG financial data, surveyed stateinsurance regulators (96 percentresponse rate), and interviewed RRGindustry representatives.

Risk Retention Groups
Risk Retention Groups

Author: United States Government Accountability Office

Publisher: Createspace Independent Publishing Platform

Published: 2018-01-08

Total Pages: 58

ISBN-13: 9781983615238

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RISK RETENTION GROUPS: Clarifications Could Facilitate States' Implementation of the Liability Risk Retention Act

Risk Retention Group Directory and Guide, 1992
Risk Retention Group Directory and Guide, 1992

Author: Karen Cutts

Publisher:

Published: 1992-07

Total Pages: 144

ISBN-13: 9780962584008

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This annual directory contains in-depth profiles of risk retention groups (RRGs) formed under the 1986 Liability Risk Retention Act. RRGs are liability insurance companies owned by members who are engaged in similar or related businesses or activities. Information includes: description of RRG members & types of risks insured; eligibility requirements; insurance coverages; policy limits; selected financial data; officers; contact information; states of operation; accessibility to agents & brokers; reinsurers & other relevant data. A Guide to the Risk Retention Act is also included, along with the full text of the Act & proposed amendments. A special feature of the 1992 edition is an index of service providers & the types of services provided to RRGs. A state-by-state survey of risk retention group regulation gives a comprehensive overview of state regulation. Contact information for state insurance department personnel handling risk retention matters is provided, as well as contact information for other key agencies & organizations. A related monthly publication, the RISK RETENTION REPORTER, (12 issues, $245, ISSN 1063-357X) tracks new RRGs, changes to existing ones, & serves as a comprehensive source of information for the risk retention marketplace. All orders pre-paid. To Order: Call 818-796-4972, or FAX 818-796-2363.

Risk Retention
Risk Retention

Author: United States. Congress. Senate. Committee on Commerce, Science, and Transportation. Subcommittee on the Consumer

Publisher:

Published: 1989

Total Pages: 228

ISBN-13:

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Gao-05-536 Risk Retention Groups
Gao-05-536 Risk Retention Groups

Author: United States Government Accountability Office

Publisher: Createspace Independent Publishing Platform

Published: 2018-02-03

Total Pages: 120

ISBN-13: 9781984943743

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GAO-05-536 Risk Retention Groups: Common Regulatory Standards and Greater Member Protections Are Needed

Adkisson's Captive Insurance Companies
Adkisson's Captive Insurance Companies

Author: Jay Adkisson

Publisher: iUniverse

Published: 2006

Total Pages: 372

ISBN-13: 0595422373

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A captive insurance company is, in a nutshell, an insurance company formed by a business owner to insure the risks of the operating business. The operating business pays premiums to the captive, and the captive insures the risks of the operating business. A captive is much more than an exotic form of self-insurance: It is the creation of a new insurance company that has the potential to grow from being a mere captive into a full-blown insurance company seeking to profit from underwriting the risks of others. Adkisson's Captive Insurance Companies provides a basic introduction to captives and their benefits, including: utilize your own experience ratings; recapture underwriting profits; underwrite exposed risks and deductibles; access the reinsurance markets; and transfer wealth between generations. This book also provides a unique look at the wealth transfer, accumulation and preservation advantages of captives, as well as an overview of the types of captives, taxation of captives, and captive domiciles.