NASW Risk Retention Group, Inc.
NASW Assurance Services, Inc. (ASI) incorporated the NASW Risk Retention Group, Inc. (RRG) on June 15, 2012. The RRG is domiciled in Washington, D.C. where the D.C. Department of Insurance, Securities, and Banking regulates it. Although the policyholders own the RRG, ASI provides program management and manages the service partners who provide accounting and management information, regulatory compliance, financial management and administration.
What is the NASW Risk Retention Group, Inc.
The NASW Risk Retention Group, Inc. (RRG) is a captive insurance company established to provide liability insurance for a specific group of policyholders who share a common interest, such as members of a professional association. The RRG offers a better way to benefit NASW Members.
The RRG exists to serve the policyholders and its specific structure gives ASI significantly more control than it previously had over the professional liability insurance program. It improves ASI’s ability to make policy changes and enhancements to benefit NASW members. Allows ASI to participate in claims decisions and offers the potential for premium credits in future years when the RRG is well established and program experience is good.
The RRG structure is more efficient and allows ASI to be more responsive to NASW members, respond to the marketplace, and stay competitive with other programs. Under the RRG structure, ASI can quickly implement a program enhancement. With professional liability insurance being a top benefit of NASW membership, a more flexible, responsive structure is in the interests of NASW, ASI, and our NASW members.