Risk Retention Insurance Services is a relatively new company but it has a long and storied history.
It begins in 1980 when Dan Junius was asked to take control of the Safe Step, Ltd. claims program. At that time ladder manufacturers were being pummeled by insurance issues ranging from double digit premium increases to receiving cancellation notices due to bad claims experience, caused by carriers making huge settlements rather than chance a jury verdict.Since then Risk Retention Services has participated in a variety of programs from an off-shore captive to a surplus lines buying group and today primarily individually written commercial lines casualty policies. Each of these structures has inherent advantages and disadvantages. Much to our dismay, we discovered that many insurance agents lack the practical experience and knowledge needed to properly protect their high exposure clients.
The needs of manufacturers have changed over time with the rise of "big box" retailers, competition from imports and an ever-changing legal environment. As a claims manager,
RRS has seen many situations that could have been avoided had the insurance agent taken the time to properly structure a liability insurance program with a policy that avoided the "holes" in standard coverage.
What was once a rather straightforward agreement between two parties has become a maze of confusing and sometimes contradictory clauses.You need to work with someone who understands your business and insurance needs and knows how to evaluate insurance policies to make sure you are getting the coverage and protection you need. Risk Retention Insurance Services (RRIS) was formed to assist companies in minimizing the damage caused by having inappropriate and inadequate liability insurance.
Unlike a general agent or agency that tries to provide all things to all companies (essentially anything they can sell),
RRIS provides a limited, specialized approach to managing products and general liability exposures for our clients.
RRIS understands that insurance policies and their endorsements and exclusions are
not all alike, so you don't have to. We know how to evaluate your liability coverage needs and how to structure policies tailored to meet your specific needs.
Risk Retention Services has proven that a focused commitment to effectively managing claims can save clients from outlandish settlements that ultimately impact loss ratios and premiums. Risk Retention Insurance Services takes the same kind of focused approach in structuring insurance programs that address the specific needs for each of its clients. Whether your company sells to Home Depot or the corner hardware store, you can be sure that you have the protection that both you and your customer need when a claim arises when RRIS puts together the right insurance program for you. Make sure you don't have any surprises the next time you receive a claim against your product.
E-mail or Call Risk Retention Insurance Services Today at (414) 352-4542
