Home Patient Safety & Risk Management Leadership FAQ Contact Us MEMBERS FREQUENTLY ASKED QUESTIONS ORGANIZATION What is a Risk Retention Group? Does my state overview RRGs? How does a RRG differ from a captive? How does a RRG differ from an admitted insurance company? How does a RRG differ from an Excess & Surplus Lines Company? What is the legal structure of EMPAC RRG? How is a reciprocal taxed? How and when will dividends be declared? How many votes will I receive? Who overviews a RRG? Do state guarantee funds apply to a RRG? Where do I find more information on RRGs? What are some of the advantages of a physician owned insurance company? Your Content Goes Here Are there many RRGs operating currently? COVERAGE What type of policies does EMPAC RRG write? What types of services does EMPAC RRG insure? Is the policy form specifically manuscripted for Emergency Medicine Physicians? Is EMPAC RRG assessable? Are there mandatory deductibles? What limits are available? Can additional locations/insureds be added once the group has signed the policy? Will EMPAC RRG expand its geographical coverage to all 50 states? Will an extended reporting period or “tail” coverage be offered? UNDERWRITING How does the insurance application process proceed, and who is responsible for making underwriting and policy pricing decisions for EMPAC RRG? What factors are considered in the underwriting process? How are premiums determined? Do all members receive the same rate or are there considerations made for other underwriting criteria? Will program profits ever be used to reduce future premiums? Will members be required to meet underwriting criteria annually? CLAIMS & RISK MANAGEMENT Who will be responsible for handling claims for EMPAC RRG? Who will represent me? Can I choose my own attorney? Will EMPAC RRG grant Consent to Settle Authority to insureds? Who will review the adequacy of EMPAC RRG’s loss reserves? How are settlement offers determined? Will this program offer risk management services? MEMBERSHIP What are the eligibility requirements for membership? Why is a surplus contribution necessary in order to be insured by EMPAC RRG? Can I finance my capital contribution to EMPAC RRG or my insurance premium? Will this program offer risk management services? GOVERNANCE Who manages the operations of EMPAC RRG? Who will provide investment management services to EMPAC RRG? Will there be annual audits of EMPAC RRG’s financial statements? FINANCIAL STABILITY In what form has EMPAC RRG been organized? Does the program have reinsurance? Have doctor-owned insurance companies been successful? REGULATION Who has regulatory responsibility for the RRG? Why has EMPAC RRG been formed in the State of Nevada? 200 E. Robinson Street Suite 1180 Orlando, FL 32801 | Phone: 407.898.9560 | Fax: 407.641.8811 © Copyright 2021 | EMPAC Risk Retention Group | All Rights Reserved