RISK RETENTION GROUPS

RISK RETENTION GROUPS,

RISK RETENTION GROUPS means,

  1. Meaning of RISK RETENTION GROUPS: Insurers that merge as independent insurers to form organizations as licensed and licensed insurers to manage liability insurance in at least one state.

  2. The definition of RISK RETENTION GROUPS is: Liability insurance administered by its policyholders. Membership is limited to individuals conducting only one business or activity, which puts them at risk of similar liability. It aims to increase and expand loyalty engagement among group members and provide an alternative risk finance mechanism for loyalty. These companies were established under the Liability Risk Retention Act of 1986. The law prohibits risk groups from receiving certain types of coverage, including ownership limits and employee compensation. They provide insurance coverage primarily for medical liability, general liability, professional liability, professional liability and additional liability. They can be set up as mutual funds, ■■■■■ stock companies or corporations.

Literal Meanings of RISK RETENTION GROUPS

RISK:

Meanings of RISK:
  1. Risk exposure situation.

  2. Expose someone or something of value for harm, loss or damage.

Synonyms of RISK

venture, danger, peril, put at risk, fear, hazard, put in danger, endanger, menace, chance, expose to danger, put in jeopardy, prospect, gamble (with), bet, wager, put on the line, likelihood, probability, threat, take a chance with, possibility, jeopardize, imperil

RETENTION:

Meanings of RETENTION:
  1. The process of taking and retaining a substance.

GROUPS:

Meanings of GROUPS:
  1. A series of elements occupy a single column in a periodic table, and because of their similar electronic structure, most features are identical.

  2. A set of elements with associative binary operations in which each element and identification element is reversed.

Sentences of GROUPS
  1. There were three chairs around the table.

Synonyms of GROUPS

bunch, marshal, gang, class, grouping, kind, rank, assemble, bracket, party, breed, organize, grade, cluster, dispose, type, species, assembly, amass, style, pack, arrange, set, genus, troop