770.246.8535
info@venturecaptive.com
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» Professional Insurance Managers: Venture Captive Management
NALRRG's Product Features
» Easy Online Application
» No Deductible
» Sensible Limits of Liability
» Risk Management Assistance
» Loss Prvention Assistance
» All Insureds are Stockholders
About Us
The National Assisted Living Risk Retention Group, Inc (NALRRG) is a US-domiciled Insurance Company organised according to the 1986 Federal Risk Retention Act.
The Company has been in business since 2003, and has a proven track record of financial stability.
General and Professional Liability coverages currently are provided for Assisted Living Facilities in 8 states. Insureds are stockholders in the Company and exercise their
rights to participate in Company management.
The Company was formed by members of the North Carolina Association Long Term Care Facilities (NCALTCF). The members are themselves owners and operators of Assisted Living Facilities.
Venture Captive Management, LLC, professional insurance managers, manages the day-to-day operations of the Risk Retention Group.
What is a Risk Retention Group
The term 'Risk Retention Group' (RRG) originated in the Federal Risk Retention Act of 1981, which was passed in response to a 'Products Liability Crisis' that arose from the rising
costs and decreasing availibility of products liability coverage from commercial insurers in the 1970's. This Act was written to help organizations in any industry to meet their products
liability risk financing needs by forming their own risk financing organization (insurance company). In response to the liability crisis in the mid-1980's, the Act was expanded in 1986 to
include all types of liability insurance except workers compensation and personal liability.The RRG's are highly regulated by the Department of Insurance of the state in which they are domiciled.
To comply with the 1986 Act, all insureds must be involved in a like business; i.e, assisted living; and all must be owners of the company. Thus each insured purchases stock and participates
in the management of the company.
Our Mission
Our mission is to be the leading insurer of Assisted Living Facilities in all states in the United States. We will provide General and Professional liability coverages at a competitive price
through our network of professional, trained agents while maintaining at all times an exceptional quality of customer service through our fully committed and motivated staff.
