• Risk Retention Groups Respond to the Hard Market
  • April 10, 2007 | Author: Robert H. Myers
  • Law Firm: Morris, Manning & Martin, LLP - Washington Office
  • There is an axiom to cover almost everything. Two that come to mind in the context of this hard market are "nature abhors a vacuum" and "necessity is the mother of invention." The hard market has created a vacuum in the availability of many coverages at affordable prices. What is particularly interesting is that it is Risk Retention Groups ("RRGs") have come to prominence, along with other forms of captives and alternative market mechanisms.