National Assisted Living Risk Retention Group, Inc (NALRRG) is a U.S.-domiciled insurance company organized according to the 1986 Federal Risk Retention Act. The company has been in business since 2003 and has a proven track record of financial stability.
The company was formed by some members of the North Carolina Association Long Term Care Facilities (NCALTCF). The NCALTCF members are themselves owners and operators of assisted living facilities.
Venture Captive Management, LLC, professional insurance managers, manages the day-to-day operations of the Risk Retention Group.
General and Professional Liability coverages are provided for assisted living facilities, in 10 states, and Group Homes in Florida only. We have introduced recently an administrative procedures protection cover that can be added to NALRRG's general and professional liability policy by endorsement. The endorsement covers fines and penalties levied by any government agencies, loss of income from suspension of payments, and defense cost. Insureds are stockholders in the Company.
The NALRRG product is offered through licensed agents. Click on the "Find an Agent" button to find a local agent.
There is no deductible under our policy. Therefore, every legitimate claim is paid from first dollar. The insured is not responsible for any part of an insured claim up to the policy limit.
Limits of Liability
A variety of Limits of Liability is offered. Expenses for the defense of a claim are inside the Limits of Liability.
Risk Management Assistance
When incident reports are submitted to NALRRG (via its Claims Administrators), where necessary, advice is offered to the insured with respect to their systems and procedures, or lack thereof, with a view to improving their risk management and loss prevention mechanisms. Additional third party risk management services are also available.
All Insureds are Stockholders
The Risk Retention Act 1986, under which rules and regulations NALRRG falls, stipulates that all insureds of a Risk Retention Group must also be shareholders. Therefore, all applicants for insurance must also make subscription towards stock. The good news is, because of NALRRG's strong financial condition, effective from June 3, 2013 new insureds can effect their liability insurance without having to pay any capital for their Class C shares.
Our claims administrators are experienced, aggressive, efficient, and work hard for the insured. Their philosophy is to settle those legitimate claims as quickly as possible and to fiercely defend those that have no merit.