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A risk retention group (RRG) is a liability insurer owned by its policyholders, who share similar or related liability exposures. Under the federal Liability Risk Retention Act of 1986, an RRG is chartered and licensed as a liability insurer in one state and can insure members in other states after registering there.
A member-owned US liability insurer, chartered in one state and registered in others under federal law.
12 active providers
How are these providers ranked?These three are often confused. Only two of them are insurers, and only one is defined by the federal Act as a member-owned liability insurer.
| Feature | Risk retention group | Risk purchasing group | Group captive |
|---|---|---|---|
| Is it an insurer? | Yes — a licensed liability insurer | No — buys insurance for members | Yes |
| Lines | Liability only | Liability only | Depends on license and domicile |
| Ownership | Member-insureds only | Not an insurer; no capital in an insurer | Members |
| Multistate operation | Chartered and licensed in one state; registers in each other state where it insures members | Gives notice to and registers with each state where it does business; buys from admitted insurers, chartered RRGs or through licensed surplus lines brokers | Licensed in its domicile; coverage written elsewhere often goes through a fronting insurer |
| State guaranty fund protection | No — every policy must carry a notice saying so | Depends on the insurer that writes the coverage | Generally no — captive laws commonly exclude captives |
Guaranty funds are state safety nets for policyholders of insolvent licensed insurers. Federal law bars states from requiring RRGs to join them, and each RRG policy must state that state insolvency guaranty funds are not available. Captive statutes commonly exclude captives as well; Vermont's, for example, bars captives from joining or drawing on state guaranty funds. Where an admitted fronting insurer issues the policy, the position follows that insurer and the state. Counsel familiar with the Liability Risk Retention Act and the domiciliary regulator are the first stops; an actuary and an RRG manager follow.
Aon Insurance Managers (USA) Inc. is a U.S. captive management entity operating within Aon’s Captive & Insurance Management practice. Its captive services include management, captive and risk-finance strategy support, actuarial services, underwriting and claims support, accounting and treasury support, and risk management, compliance and governance support.
Independent, employee-owned property and casualty actuarial and management consulting firm providing actuarial, risk financing, enterprise risk management, predictive analytics, reinsurance, regulatory, and alternative market consulting services.
Risk Services, LLC is a full-service captive insurance manager providing formation, licensing, accounting, financial reporting, regulatory compliance, underwriting, policyholder administration, reinsurance intermediary and fronting support services.
Strategic Risk Solutions (Vermont), Ltd. provides captive insurance management, consulting, financial reporting, regulatory compliance, governance, underwriting and strategic advisory services to captive insurers, group programs, risk retention groups and other insurance entities.
RH CPAs, PLLC is a public accounting, tax and advisory firm providing audit, tax, accounting, regulatory and consulting services to captive insurers, risk retention groups, mutual insurers, life insurers, property and casualty insurers and reinsurers.
CBCS, LLC is an independent property and casualty Third-Party Claims Administrator providing national workers’ compensation, auto liability, general liability, physical damage and cargo claims services. It supports self-insured employers, large-deductible programs, captive programs, risk retention groups and program managers, with additional nurse case management, medical cost containment, loss-control and reporting capabilities
The Actuarial Advantage, Inc. (TAA) is a boutique property & casualty actuarial and insurance consulting firm formed in 2021 through the merger of The Actuarial Advantage (founded 2001) and Financial Risk Analysts (founded 1993). TAA provides actuarial consulting — including loss reserving, captive feasibility studies, pricing, and statements of actuarial opinion — to insurance carriers, captive insurance companies, risk retention groups, government risk pools, and self-insured entities across the U.S. and offshore.
Founded in 1991. BPS joined Smith + Howard in January 2026 and began transitioning to the Smith + Howard brand. Before the acquisition, BPS had nearly 100 Certified Public Accountants and professional staff and was recognized as an INSIDE Public Accounting Top 250 Firm. LinkedIn showed 35 employees at the time of research.
PKF O'Connor Davies is a U.S. accounting, tax and advisory practice providing assurance, tax, regulatory, cybersecurity and business advisory services to insurance carriers, captive insurers, risk retention groups and managing agents.
Alan Gray, LLC is a Boston-based claims and audit advisory firm founded in 1988, providing claims auditing, forensic accounting, third-party administration, legal expense management, and quantitative risk analysis services to insurers, reinsurers, MGAs, TPAs, law firms, captives, and self-insured organizations. The company operates as part of Premia Holdings Ltd. and owns subsidiary A.G. Risk Management, Inc.
U.S.-based captive insurance management business within Amynta Group providing formation, management, regulatory, financial reporting, underwriting, reinsurance and fronting support for captives, Risk Retention Groups and other alternative insurance market entities.
Insurance-focused CPA and consulting firm providing audit, tax, accounting advisory, risk, compliance, technology, and operational consulting services to captive insurance entities and other specialized organizations.
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