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A risk retention group (RRG) in business economics is an alternative risk transfer entity in the United States created under the federal Liability Risk Retention Act (LRRA). [when?] RRGs must form as liability insurance companies under the laws of at least one state—its charter state or domicile.
Coverages included general liability (business insurance), auto insurance, trailer spotting coverage, directors and officers liability insurance and garage liability. Evergreen was formed under the Federal Liability Risk Retention Act of 1986 [1] and is a Risk Retention Group.
Based on her research, Davis was convinced that conventional insurers did not fully understand insurance risk in the nonprofit sector, so she set out to create a nonprofit risk pool that could better meet the needs of nonprofits in California. In 1989, Davis secured $1.3 million in loans from nonprofit partners and foundations to create the ...
A reciprocal inter-insurance exchange or simply a reciprocal in the United States is an unincorporated association in which subscribers exchange insurance policies to pool and spread risk. For consumers, reciprocal exchanges often offer similar policies to those offered by a stock company or a mutual insurance company.
Risk retention involves accepting the loss, or benefit of gain, from a risk when the incident occurs. True self-insurance falls in this category. Risk retention is a viable strategy for small risks where the cost of insuring against the risk would be greater over time than the total losses sustained.
Offering health insurance boosts employee satisfaction and retention. Options range from traditional group plans to flexible HRAs like ICHRA. Key factors include cost, coverage, compliance, and ...
More employees mean an insurance company takes less risk because, in any given year, about 5% of people account for half of all healthcare spending. A small PEO may offer single-employer policies ...
Alternative risk transfer (often referred to as ART) is the use of techniques other than traditional insurance and reinsurance to provide risk-bearing entities with coverage or protection. The field of alternative risk transfer grew out of a series of insurance capacity crises in the 1970s through 1990s that drove purchasers of traditional ...
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