Frequently Asked Questions

A Risk Retention Group is a type of insurance company that is authorized under U.S. federal statute, the Liability Risk Retention Act of 1986 (LRRA). A Risk Retention Group provides liability insurance to individuals or businesses that share a common profession, trade or industry. It should be duly noted that RRGs are typically regulated by various state insurance departments but they are not covered by state guaranty funds.

CCRRG is set up as a Mutual Insurance company, so each insured is a “member” and CCRRG is a Mutual Insurance Company.

CCRRG  insures long term care facilities, skilled nursing facilities and assisted living facilities. CC RRG does not cover facilities owned by publicly traded companies or facilities managed by state or local governments.

Professional Liability Insurance and General Liability Insurance.  By law, Risk Retention Groups are not able to offer property or workers' compensation insurance coverage.

CCRRG  was formed and exists only for the benefit of members and policyholders. We are owned by, and operated solely for the benefit of our policyholders, who provide long term and short term healthcare in their facilities. Any profits made by the company belong to you, the policyholder.

You will get continued, fair and stable coverage from a company that you own and that specializes in defending claims made against long term care facilities. CCRRG aggressively defends all claims made against our policyholders and offers industry leading risk management programs for you and your employees.

Premiums are set using a rigorous underwriting process. Underwriters look at actual loss experience and set prices based on how well you run your business, as well as the general loss experience for the long-term care industry/sector. By conducting safe operations, participating in timely risk management seminars, and having a good maintenance plan at your facility, you can expect to keep your premium more stable and affordable.

CCRRG is not a “stock” company vs. mutual insurance company. Equity for owner of CCRRG is predicated on % fully mature claims made premiums and is identified in the quote.

Magnolia LTC is responsible for the day-to-day management of CCRRG including policy administration, claim defense, and managing the exclusive integrated risk management program for insureds.  Magnolia LTC has formed over a dozen years ago and made up of healthcare facility insurance experts.

CCRRG is regulated by the State of Vermont Division of Insurance. Vermont is considered one of the best states for RRG and Captive oversight and regulation.  Vermont State regulators meet with and review CCRRG financials on an annual basis. Because some RRG’s may not be rated by AMBEST, it is important for Individual States to maintain strict oversight of the companies that they regulate and oversee.