Feasibility Study First Step In Forming RRG As corporate insurance buyers once again steel themselves to the reality of the hard market and continuing rate increases, many may consider moving their programs into risk retention groups. To determine whether an RRG is the best solution, preparation of a feasibility study is essential.
A feasibility study not only helps insureds determine whether an RRG is the best option, but it is also a requirement of the Liability Risk Retention Act, which provides that a feasibility study or plan of operation be submitted to the RRGs domiciliary state regulator as well as to regulators of states in which the RRG intends to operate.
The first decision that prospective insureds must make is who will conduct the feasibility study.
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