Federal Motor Carriers Risk Retention Group Inc (FMCRRG) has commenced accepting new members in the 12 states of Alabama, California, Delaware, Florida, Illinois, Louisiana, Massachusetts, Mississippi, New Jersey, Pennsylvania, Tennessee, and Texas.
Risk retention groups (RRGs) were created in 1986 by the federal Liability Risk Retention Act as a response to restrictions in the liability insurance market. An RRG enables its members (which are engaged in similar businesses) to create and own a liability insurance company. RRGs allow their members to gain control of their liability insurance programs that can result in broader coverage, market stability, lower rates, better loss control services, and participation in underwriting and investment earnings.
Federal Motor Carriers Risk Retention Group offers a $1 million CSL automobile liability insurance policy for truckers with fleets of 40 or more power units hauling non-hazardous commodities, with good loss experience, and able to retain a $100,000 per occurrence self-insured retention.
E-mail Thomas Mulligan at [email protected] for complete details.
