What Is a Risk Retention Group?

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Due to the 1985 hard insurance market, Congress passed the Liability Risk Retention Act of 1986. The act allowed the authorization to purchase group insurance programs for specific liability exposures. This made it much easier for members of a particular group or industry to establish alternative risk financing alternatives, such as Captives, SIR’s, and Risk Retention Groups (RRGs).

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Topics: Construction Risk Management, Alternative Risk Financing