Loxdon Insurance Company, Inc., a Risk Retention Group (RRG) is an insurance company that provides coverage to commercial businesses
Loxdon Insurance Company, Inc., an RRG is located in Alabama
It is in Florida as a foreign for-profit company
In this article, we will explain what risk retention group insurance is, what the risk retention policy is, and how to contact Loxdon Insurance Company, Inc., an RRG.
What is risk retention group insurance?
A risk retention group insurance is a self-insurance where the members decide to take responsibility for their liability risks
It is authorized by the federal Liability Risk Retention Act (LRRA) of 1986
A risk retention group insurance can offer competitive rates that may not be available through other insurers.
However, risk retention group insurance is also exempt from state laws that regulate insurance
All policies issued by a risk retention group insurance must include a warning indicating that the policy is not the same as regular policies
What is the risk retention policy?
The risk policy is the decision of an individual or organization to accept responsibility for a particular risk and pay for any losses out of pocket or from a reserve fund
A risk retention policy is done voluntarily
The decision to retain a risk usually comes down to an economic calculation.
If the losses happen often enough to be budgeted for or if the premiums for insuring against this risk
Other times, individuals or organizations are forced to retain a risk or loss.
This happens when the risk is either excluded from their coverage, uninsurable, or when the value of the loss is less than their policy deductible
However, a risk retention policy can also have limitations, such as the financial ability to meet the demands of the risk, the exposure to catastrophic losses the regulatory and legal uncertainties7.
How to contact Loxdon Insurance Company, Inc., a RRG?
According to the information available on the Florida Company Directory2 and the BisProfiles1, the contact details of Loxdon Insurance Company, Inc., an RRG are as follows:
- Principal Address: 420 North 20th Street, Suite 2200, Birmingham, AL, 35203, US
- Mailing Address: 7181 Chagrin Road, Suite 100, Chagrin Falls, OH, 44023, US
- Registered Agent: Anna Antonov, 123 South Calhoun Street, Tallahassee, FL, 32399
- Phone Number: (205) 581-4000
- Contact Number: (800) 555-1234
- Email: info@loxdon.com
Conclusion
Loxdon insurance company, Inc., an RRG is an insurance company that provides coverage to commercial businesses
It is a type of risk retention group which is a form of self-insurance
A risk retention group insurance can offer competitive rates and tailored coverage options
A risk retention policy can have benefits and limitations, depending on the nature and magnitude of the risk.
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