Twenty years ago, President Ronald Reagan signed into law the 1986 amendments to the Liability Risk Retention Act, to provide a "marketplace solution" to disruptions in the availability and affordability of commercial liability insurance.
By all counts, the LRRA is a success, providing a viable alternative to the traditional insurance market. The more than 200 RRGs operating today are in it for the long term.
They're happy to have the stability provided by RRGs, the ability to implement effective risk management programs, and the potential for reaping financial rewards from good loss experience. Premium generated by RRGs in 2005 neared the $2.5 billion mark.
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