Risk Retention Group (RRG),
How To Define Risk Retention Group (RRG)?
The definition of Risk Retention Group (RRG) is: An insurer created under the Federal Risk Reclamation Act 1981, which was amended in 1986 to cover the risk of all kinds of obligations other than employee compensation to help insurance companies avoid the maximum rules for multi-state licensing. Can be done Must be owned by RRG Insurance. Most RRGs are in captivity and must be released and must remain on the ground, having rights guaranteed under the 1981 Act.
You can define Risk Retention Group (RRG) as, An insurer licensed under the laws of the United States or other jurisdictions of the United States and consisting of members whose business activities are in accordance with and under the control of its members.
An insurer established under the Federal Risk Retention Act 1981, which was amended in 1986 to cover the risk of any liability for insurance companies to avoid the hassle of certain state licensing laws. The RRG should be the policyholder. Most RRGs are incarcerated and must be released on land, guaranteed the rights guaranteed under the 1981 Act.
Risk Retention Group (RRG) means: An alternative form of insurance where members of the same profession or company come together to insure their own risks.
Risk Retention Group (RRG) can be defined as, The group's insurance companies are formed to cover and distribute the risk of liability to its members.
Literal Meanings of Risk Retention Group (RRG)
Meanings of Risk:
Expose someone of loss, damage or loss or anything of value.
Conditions involved in exposure to hazards
Sentences of Risk
Ignoring the law is very dangerous
Synonyms of Risk
gamble with, hazard, fear, possibility, gamble, jeopardize, bet, expose to danger, threat, endanger, menace, put in jeopardy, probability, take a chance with, put at risk, peril, likelihood, venture, prospect, wager, imperil, put on the line, put in danger, danger, chance
Meanings of Retention:
Continuity, use, or possession of something.
Meanings of Group:
Collect or keep in groups or groups.
Multiple people or nearby objects either seen or arranged together.
Sentences of Group
These bodies are divided into four different groups
Synonyms of Group
collect, genus, grouping, gather together, batch, classification, kind, species, mass, sort, cluster, variety, set, assemble, lot, breed, amass, class, category, family, bracket, bunch, type, style, clump