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The Nevada Docs Medical Risk Retention Group, Inc. is classified as an Association Captive insurance company by the Nevada Division of Insurance. However, risk retention groups are enabled by Federal legislation which permits operation in multiple states once admitted in one venue. All insured parties of the risk retention group are shareholders and only shareholders may be insured. Shares may only be purchased after successful application and underwriting completion. Each purchaser will be supplied a complete Informational Circular which is the only full and complete description of the Groups business and attendant risks prior to acceptance of their application. Each applicant is advised to have legal counsel review the Information Circular and its attachments prior to completing the application process. Nevada Docs Medical Risk Retention Group, Inc. application for a Certificate of Authority has been approved by the Nevada DOI. We meet the Capital and Surplus requirements of the State of Nevada Division of Insurance, Nevada Docs Medical Risk Retention Group has secured Reinsurance through five A rated insurers. Under these reinsurance treaties, the RRG has transferred a substantial portion of risk and the treaty provides for significant recapture of premium with successful experience. Risk retention groups do not participate in State insurance guaranty associations unlike conventional insurers. Shareholders may be required to increase the Groups capital and surplus if losses are deemed excessive. |
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