PLRRA
(redirected from Product Liability Risk Retention Act)| Acronym | Definition |
|---|---|
| PLRRA | Product Liability Risk Retention Act (statute regarding product liability insurance) |
References in periodicals archive
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WNB) -- The House has passed without objection an expanded Product Liability Risk Retention Act which includes liability and personal liability risk insurance, and completed operations
When product liability coverage became scarce in the late 1970s, Congress passed the 1981 Product Liability Risk Retention Act, and amended it in 1986, that created RRGs and granted them their sole mission to write liability coverage.
The recommendations of the task force were the basis for the original Product Liability Risk Retention Act of 1981.
The development of risk retention groups was enabled by the passage of the Product Liability Risk Retention Act of 1981.
With the advent of the 1981 Product Liability Risk Retention Act, and later with the Federal Liability Risk Retention Act of 1986, risk retention groups (RRGs) began to sprout up during the 1980s despite resistance from state insurance regulators.
Operating as a risk retention group formed under the United States Product Liability Risk Retention Act of 1981, it writes product warranty policies for its members, which are manufacturers and providers of automotive parts.
United Educators is a risk retention group, a kind of company that was enabled by the 1981 Product Liability Risk Retention Act and the amended version, the Federal Liability Risk Retention Act of 1986.
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