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).
The advantages of such a program include:
Strategic Alliances
We have established strategic alliances with leading reinsurers, insurance producers and claims & loss control providers to provide a cost effective risk transfer solution for our policyholders.
Industry Specialists
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.
Unbundled Coverages
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.
Recognized Expertise
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.
This electronic information is published by American Builders Insurance Company Risk Retention Group, Inc., a Risk Retention Group, for educational purposes only and is not intended to be a solicitation or sale of insurance to any person not eligible for membership or in states where the risk retention group has not filed its registration as required by the federal Liability Risk Retention Act of 1986 (LRRA). Risk retention groups operate under the federal Liability Risk Retention Act of 1986 and provide insurance for the common liability risk exposure of eligible group members. Different state laws may apply.
Policies issues by a risk retention group may not be subject to all of the insurance laws and regulations of your state. State insurance insolvency guaranty funds are not available for risk retention groups. This electronic information is intended solely to provide general information and is not intended to constitute legal advice. If legal advice is desired or needed, an attorney should be consulted.
© 2018 American Builders Insurance Company. All Rights Reserved.
This electronic information is published by American Builders Insurance Company Risk Retention Group, Inc., a Risk Retention Group, for educational purposes only and is not intended to be a solicitation or sale of insurance to any person not eligible for membership or in states where the risk retention group has not filed its registration as required by the federal Liability Risk Retention Act of 1986 (LRRA). Risk retention groups operate under the federal Liability Risk Retention Act of 1986 and provide insurance for the common liability risk exposure of eligible group members. Different state laws may apply.
Policies issues by a risk retention group may not be subject to all of the insurance laws and regulations of your state. State insurance insolvency guaranty funds are not available for risk retention groups. This electronic information is intended solely to provide general information and is not intended to constitute legal advice. If legal advice is desired or needed, an attorney should be consulted.