Download or read book Risk Retention Groups written by Richard J. Hillman and published by DIANE Publishing. This book was released on 2006-02 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Risk Retention Groups written by U.s. Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-08-10 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Risk Retention Group Directory and Guide 1992 written by Karen Cutts and published by . This book was released on 1992-07 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Risk Retention Groups written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-01-08 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: RISK RETENTION GROUPS: Clarifications Could Facilitate States' Implementation of the Liability Risk Retention Act
Download or read book Risk retention groups written by United States. Government Accountability Office and published by . This book was released on 2011 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Retention written by United States. Congress. Senate. Committee on Commerce, Science, and Transportation. Subcommittee on the Consumer and published by . This book was released on 1989 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Gao 05 536 Risk Retention Groups written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-02-03 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: GAO-05-536 Risk Retention Groups: Common Regulatory Standards and Greater Member Protections Are Needed
Download or read book Risk Retention Groups Common Regulatory Standards and Greater Member Protections Are Needed written by United States Government Accountability Office and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Adkisson s Captive Insurance Companies written by Jay Adkisson and published by iUniverse. This book was released on 2006 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Risk Retention Acts written by and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk retention groups and risk purchasing groups are alternative insurance entities authorized by Congress to expand insurance supply through a simplification of insurance regulation. The McCarran-Ferguson Act of 1945 generally leaves the regulation of the business of insurance to the individual states. In 1981 and 1986, however, Congress crafted a narrow exception to the usual state insurance regulations for these groups, largely exempting them from multiple state oversight. Membership in risk retention and purchasing groups is limited to commercial enterprises and governmental bodies, and the risks insured by these groups are limited to liability risks. Over the past two decades, interest -- both in Congress and in the market -- in these groups has varied largely with the vagaries of the regular insurance market. Since 2001, the insurance market has been in one of its periodic "hard" markets and regular insurance has become increasingly expensive and sometimes unavailable. During this time, the numbers of risk retention groups have risen dramatically and calls are being heard to expand the scope of insurance that they are allowed to offer. At the same time, some problems have occurred in individual risk retention groups and cautionary voices are also being heard. The fundamental questions surrounding Risk Retention Act expansion are essentially the same as those addressed by Congress in prior consideration of the issue. Stripping away jargon, this question can be posed as an issue of availability vs. reliability. Those who would support expansion often focus on a failure of the current insurance market, and the current regulatory system, to make a sufficient supply of insurance available so that consumers who need insurance can find it at a reasonable price. The question they pose is essentially: "What happens to a community when a business, a school, or a doctor can not afford or find insurance?" Those who would oppose expansion often focus on the dangers in allowing insurance to be sold that is not subject to same regulatory standards as "normal" insurance. The question this group poses is essentially: "What happens to a community if the insurer from which this business, school, or doctor purchases insurance ends up bankrupt or if the policy does not cover what needs to be covered?" This report outlines the current regulatory structures affecting risk retention and risk purchasing groups as well as the legislative and market history of these groups. It also discusses the current debate regarding possible expansion of these groups into areas beyond commercial liability insurance. This report will be updated as significant legislative events occur.
Download or read book Risk Retention Group Directory and Guide 2019 written by Christopher Diemel and published by . This book was released on 2019-07-08 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Retention Group Directory and Guide 2018 written by Christopher Diemel and published by . This book was released on 2018-07-10 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Liability Risk Retention Amendments written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Commerce, Consumer Protection, and Competitiveness and published by . This book was released on 1991 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Retention Group Directory and Guide 2015 written by Karen Cutts and published by . This book was released on 2015-06-14 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Retention Groups in Medical Malpractice Insurance written by Patricia Born and published by . This book was released on 2008 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Retention Group Directory and Guide 2010 written by and published by . This book was released on 2010-05-10 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Retention Group Directory and Guide 2017 written by Christopher Diemel and published by . This book was released on 2017-06-26 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
