Guide to Risk Retention Groups and Purchasing Groups

Besieged by pleas from business people and municipalities across the United States who were unable to obtain or afford liability insurance during the mid-1980’s, Congress responded by enacting amendments to the 1981 Product Liability Risk Retention Act. The new legislation, known as the Federal Liability Risk Retention Act of 1986 (LRRA), created two vehicles by which insurance buyers could more …

Can RRGs Meet the Need for Commercial Auto Coverage?

The Transportation sector continues to drive new risk retention group formations. Of the eight new risk retention group formations thus far in 2020, five are Transportation risk retention groups. This suggests there is a need for commercial auto liability coverage, much as there was a need for medical professional lines of coverage in the years following the passage of 1986 Liability …