Risk Retention Group

Risk Retention Group

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Flexible coverage options with nationwide reach and protection

A Risk Retention Group (RRG) is an alternative liability insurance company owned by its members. Coverage is limited to members and liability exposure is spread across these providers. COPIC-RRG is managed and reinsured by us for multi-state coverage with one policy.

RRGs offer a different coverage option for larger, specialty-specific medical groups that operate and/or have facilities and staff in multiple states. Because they fall under the Federal Liability Risk Retention Act of 1986, they are domiciled in one state or Washington D.C. There are several benefits to forming an RRG:

  • Nationwide reach and protection—An RRG insures members throughout the country by registering in all states where coverage needs to be written. This allows you to avoid the hassle of applying for coverage state-by-state.
  • Return on investment—Members may benefit when there are favorable loss conditions that allow for the distribution of dividends or reductions in premiums. 
  • Ownership in business decisions—Because members are owners, they participate in the oversight of the RRG. 

COPIC-RRG is available in over 20 different states and offers the same benefits and services as COPIC's traditional medical liability insurance (claims/defense support, underwriting, patient safety and risk management, etc.). 

Why choose COPIC-RRG?

  • Clear guidance that you can depend on—RRGs can be complex and COPIC’s expertise helps simplify the process so you understand the important details and can make decisions with confidence.
  • A program built on a strong, stable foundation—COPIC is a financially stable company that earned its “A (Excellent)” rating from A.M. Best in 1999 and has maintained it without interruption since, and COPIC-RRG carries this same rating.
  • Coverage options that mirror what COPIC already provides— All specialties as well as allied health professionals can apply for coverage under the COPIC-RRG.
  • Access to trusted experts and resources—As a COPIC-RRG insured, you will have direct relationships with our recognized physician risk managers, claims department, underwriting staff, and other team members; and you have the option to access our extensive patient safety and risk management resources to support efforts to improve outcomes.
  • Existing COPIC customers can easily transition into RRG arrangements.
 

 

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