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About: Risk retention group     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : dbo:Organisation, within Data Space : dbpedia.org associated with source document(s)

Type: organisation New Facet based on Instances of this Class

A risk retention group (RRG) in business economics is an alternative risk transfer entity created by the federal Liability Risk Retention Act (LRRA). RRGs must form as liability insurance companies under the laws of at least one state—its charter state or domicile. The policyholders of the RRG are also its owners and membership must be limited to organizations or persons engaged in similar businesses or activities, thus being exposed to the same types of liability. Most RRGs are regulated as captive insurance companies. However, RRGs domiciled in states without captive law are regulated as traditional insurance companies.