Risk Retention Groups are groups where the insureds buy in for a portion of the overall group… like a Mutual Insurance Company, only a lot smaller.
RRG’s as they are called sprouted up all over America after a law allowed them to start existing in 1981.
Apparently, states (Including California) have been attempting to meddle in their ability to do business and this has come back to the attention to Congress.
What does this mean to you? If you’re a roofer, building demolisher, etc. or any other really “High-Risk” business, your ability to get Liability Insurance is difficult at best.
The more affordable premiums RRG’s offer may be the only way some of these business are able to continue to exist.
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