THE DIFFERENCE!

WHAT IS THE DIFFERENCE

BETWEEN AN INSURANCE

COMPANY AND A RISK

RETENTION POOL?

 

Pools may seem like just another insurance company, but there are very  important differences.

 

For instance:

·          Pools are owned, operated and controlled by their Members.  Funds contributed to the Pools are owned by the Pools, and each entity that joins the Pool indirectly owns the Pool’s  assets.  The Member-elected board determines the use of those funds.

 

·          With similar goals and objectives, operating in the same environment, Members of the Pool share the same concerns.  Thus, services, programs and insurance coverages are    industry-specific.

 

·          Member charges are needed only to cover the cost of      administration and claims.