ABIC RRG was created in accordance to the Liability Risk Retention Act (LRRA) Act of 1986. In passing this Liability Risk Retention Act, Congress created an alternative solution to liability issues at that time, which included a lack of product availability and excessive rates. This Act allows groups of similar liability exposures to own and obtain coverage from an insurer formed as a Risk Retention Group (RRG). A RRG is a liability insurance company, owned by its members, and in our case, through the American Builders Association.
The advantages of such a program include:
We have established strategic alliances with leading reinsurers, insurance producers and claims & loss control providers which have led to cost effective risk transfer solutions for our members.
As specialists in the alternative market arena, we bring personal, professional and experienced guidance to the design and administration of customized solutions for the small contracting industry.
Offering our coverages on an unbundled basis gives our clients the complete freedom to choose the coverages they need and allows focus to shift from “one size fits all” approach to a truly customized solution that incorporates the best available insurance products and services.
Our teams of dedicated professionals have recognized expertise in the various functional areas of the insurance industry in underwriting, marketing, reinsurance, accounting, policyholder services, regulatory compliance, claims, and loss control.