Risk Retention Groups Continue To Grow in Size and Importance
From: Captive.com/IRMI, April 16, 2018
Even in a soft market, risk retention groups (RRGs) have grown significantly and continue to play a vital role providing coverage to their tens of thousands of policyholder-owners.
RRGs, which are multiple-owner captives, can provide all commercial casualty coverages—except workers compensation—to policyholders throughout the United States. Federal law allows RRGs to provide coverage in any state after meeting the licensing requirements of one state.
At the end of March 2018, 228 RRGs were doing business, up from just 100 in 2003, according to the Risk Retention Reporter, a monthly newsletter that tracks the RRG industry.