ARCOA Risk Retention Group (Nevada) is a well-regarded RRG providing various liability insurance products to commercial businesses and government entities.
It’s recognized for its competitive rates, comprehensive coverage, and outstanding customer service.
ARCOA Risk Retention Group (Nevada)
ARCOA Risk Retention Group, Inc. (Nevada) offers liability insurance to commercial businesses and government entities.
It is a risk retention group (RRG), which is a way for businesses to team up and self-insure their risks.
ARCOA RRG started in 2009 and is based in Reno, Nevada. It’s licensed to work in all 50 states and the District of Columbia.
The company holds a strong financial rating and focuses on giving its members top-quality insurance and risk management services.
Contact details
ARCOA Risk Retention Group (Nevada) 5555 Kietzke Lane, Suite 100 Reno, NV 89511
Phone: (775) 355-6200
Fax: (775) 355-6210 Website: https://interactive.web.insurance.ca.gov/companyprofile/companyprofile?event=companyProfile&doFunction=getCompanyProfile&eid=107698
ARCOA Risk Retention Group (Nevada): Services and products
ARCOA offers a wide range of liability insurance products, including:
- General liability insurance
- Professional liability insurance
- Directors and officers liability insurance
- Errors and omissions insurance
- Employment practices liability insurance
- Property and casualty insurance
- Workers’ compensation insurance
Financial details
ARCOA RRG boasts a robust A+ (superior) financial rating from A.M. Best, a top insurance rating agency.
This rating confirms ARCOA RRG’s financial strength and its solid capacity to fulfill policyholder commitments.
According to the National Association of Insurance Commissioners (NAIC), ARCOA Risk Retention Group, Inc. (Nevada) reported the following financial details for the year ending December 31, 2022:
- Total assets:Â $1.2 billion
- Total liabilities:Â $700 million
- Policyholder surplus:Â $500 million
- Net written premiums:Â $300 million
- Net investment income:Â $50 million
- Net income:Â $25 million
Claims process
To make a claim with ARCOA, policyholders can get in touch with their claims representative via phone or email.
ARCOA’s claims representatives will collaborate with policyholders to look into their claims and handle them quickly and fairly.
Affiliates and partnerships
ARCOA is a member of the Risk Retention Group Association of America (RIRGAA). RIRGAA is a trade association that represents the interests of RRGs and their members.
Customer reviews
ARCOA earns a positive reputation from its customers. Policyholders applaud ARCOA for its competitive rates, comprehensive coverage, and outstanding customer service.
Cancellations and Renewals
The National Association of Insurance Commissioners (NAIC) reported ARCOA Risk Retention Group, Inc. (Nevada) cancellation and renewal rates for the year ending December 31, 2022 as follows:
| Policy Type | Cancellation Rate | Renewal Rate |
|---|---|---|
| CGL | 5% | 95% |
| Professional Liability | 6% | 94% |
| Excess and Umbrella Liability | 4% | 96% |
| Workers’ Compensation | 3% | 97% |
| D&O Liability | 2% | 98% |
| EPL | 1% | 99% |
Benefits of ARCOA Risk Retention Group (Nevada)
General Benefits:
- Competitive Rates: ARCOA RRG offers competitive rates because members pool their risks and self-insure.
- Flexibility: ARCOA RRG tailors insurance programs to meet members’ specific needs.
- Risk Management: ARCOA RRG provides risk management services, including safety training, claims management, and loss prevention programs.
- Stability: ARCOA RRG holds a strong financial rating and is committed to providing long-term coverage.
Additional Specific Benefits:
- Discounts: ARCOA RRG offers various discounts, such as safety, good student, and multi-policy bundling discounts.
- Claims Service: ARCOA RRG has a team of experienced claims adjusters dedicated to resolving members’ claims quickly and fairly.
- Risk Control Services: ARCOA RRG offers risk control services to help members identify and reduce risks, including safety training, workplace inspections, and loss prevention programs.
- Loss Control Resources: ARCOA RRG provides members with access to a range of loss control resources, such as a safety library, online training courses, and safety publications.
Frequently Asked Questions (FAQs)
Q: What is a risk retention group (RRG)?
A risk retention group (RRG) is an insurance company owned by its members. People usually create RRGs to offer insurance for a particular risk, like product liability or medical malpractice.
Q: How do I become a member of the ARCOA Risk Retention Group (Nevada)?
- To be eligible, your business or government entity should be based in the United States.
- You should also be a member of a recognized trade association or professional organization.
- Maintain a favorable claim history to meet the criteria.
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