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Liability insurance companies owned by their policyholders. Membership is limited to people in the same business or activity, which exposes them to similar liability risks. The purpose is to assume and spread liability exposure to group members and to provide an alternative risk financing mechanism for liability. These entities are formed under the Liability Risk Retention Act of 1986. Under law, risk retention groups are precluded from writing certain coverages, most notably property lines and workers' compensation. They predominately write medical malpractice, general liability, professional liability, products liability and excess liability coverages. They can be formed as a mutual or stock company, or a reciprocal.

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Q: What is a risk retention group?
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What are acceptable risks in a Risk Retention Group?

A Risk Retention Group is a type of insurance formed by members who associate specifically to form an insurance pool. Acceptable risk is the level of loss that such an association can handle and remain solvent.


What is the difference between risk retention and risk transfer?

risk retention is to accept when the loss occurs and risk transfer is shifting the responsibilty of one's own losses to someone else.


What is the difference between risk retention and self insured?

Risk retention refers to the ability to accept risk and or can be referred to as risk taking, however self insured refers to a situation when someone is very much hopeful


What does risk retention mean?

Risk retention is a form of self-insurance. An organization sets aside a reserve fund to be able to offset unexpected claims.


How do you start an insurance company to self insure for fire only in Canada?

You don't need to start an Insurance Company to Self Insure. Self Insurance is defined by the absence of an Insurance Company. A self Insurer simply retains the risk of a loss. If you have a group of individuals who are wanting to Self Insure then what you will Want to Start Is a "Risk Rentention Group". Risk retention Groups are licensed by your Local Insurance Regulating Authority. You should contact them regarding rules and regulations for "Risk Retention Groups".


How do you calculate risk retention?

no of policies renewed/no of potential renewal policies


Is fluid retention caused by high or low potassium in the body?

It is excessive salt intake (sodium) which can place an individual at risk of fluid retention.


What is difference between active passive risk retention?

Retaining risk passively - Understanding the risk without taking any actions to prevent possible outcomes. Active retention - preparing for risk to happen, having plan for in case it would happen. Some form of self insurance (direct insurance would be form of transferring risk.)


What is insurance retention?

An insurance retention is the portion of an insurance claim paid by the insured instead of the insurance company. A deductible is a common example of a retention although there are other types of retentions. Retentions allow the insured to reduce insurance premiums whileassuming a portion of the risk being insured.


How could health care professional protect there self from liability?

1. Risk Transference. - Buy An Insurance Policy2. Risk Avoidance - Do not provide the care or service3. Risk Retention. - Go Bare, accept the risk and associated losses4. Risk Sharing - Share the risk with a pool of like professionals.


What is the formula for expected number of deaths?

The sumation (each stratum of population) of risk * population size. For example: (risk*population size of group 1) + (risk*population size of group 2) + ... + (risk*population size of group n)


Which rock retains heat best?

The denser the rock, the better the heat retention. Therefore a basalt would have better heat retention than a limestone, on a volume basis The best minerals for heat retention are a group of aluminosilicates called zeolites, and include minerals such as chabazite and analcime.