Liability Risk Retention Act of 1986 LRRA

{
  "id": "MLC-T-INS-001995",
  "term": "Liability Risk Retention Act of 1986 LRRA",
  "field": "Insurance and risk management",
  "definition": "A federal law that facilitates the formation of risk retention groups and purchasing groups for liability insurance. It preempts state laws that might otherwise hinder the operation of these groups, allowing businesses and professionals to self-insure or collectively purchase liability coverage. The Act aims to increase the availability and affordability of liability insurance.",
  "url": "https://mlchart.com/terminology/insurance/liability-risk-retention-act-of-1986-lrra/"
}