Risk Retention Act Of 1986
Definition of "Risk retention act of 1986"
Federal act composed of amendments to the Product Liability Risk Retention Act of 1981 and enacted to make the procedures more efficient for creating risk retention groups (capitalized, member-owned insurance company) and purchasing groups (insurance buyers group formed to obtain coverage for homogeneous liability risks, in many instances hard to insure, from an insurance company).
Popular Insurance Terms
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Salesperson who markets and services insurance policies in the state in which he or she is domiciled. ...
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Professional designation earned after the successful completion of four national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as principles ...
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