The number of operating risk retention groups formed under the Liability Risk Retention Act reached an historic high in September 2006, increasing to 238, according to the 19th Annual Survey of Risk Retention Groups, conducted by the Risk Retention Reporter.
However, the dramatic surge of RRG formations–which began in 2003 and continued throughout 2004–slowed to a more moderate pace in 2005 and 2006, as the market has softened for liability coverages, making insurance more available and affordable.
Still, risk retention group premium for 2006 is projected to increase by a hefty 13.3 percent, to another all-time high of $2.77 billion.
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