Taking out the best insurance for your business is crucial if you are going to see the lasting success you desire. When it comes to the risks of commercial liability and its exposures, it can be very useful to know what your options are. For some, an RRG is the best way to go about taking out a comprehensive plan. A Risk Retention Group is a form of group self-insurance that can do wonders for helping your business and its employees avoid the biggest risks of your specific industry.
Covers an Array of Needs
RRGs first came about after the 1987 Risk Retention Act was passed. It helps to cover a variety of liability exposures for companies. This can include general liability, as well as protection for directors and officers, coverage against errors, malpractice of a medical nature, and an array of other needs. It can even be used when you require personal liability protections. While it doesn’t cover workers compensation or provide protection for property, an RRG has a number of important uses. Additional benefits include:
- Eliminate market residuals
- Reduce fees
- Stable coverage and rates
Explore the Advantages of Risk Retention
Determining the best structure for your insurance coverage takes time. In order for you to see the results you’d prefer, give yourself a chance to review all of your options. An RRG might offer you the best possible protection.