Filing an Application

Fees also vary but are usually modest at around $250. The Liability Risk Retention Act requires that every Risk Retention Act shall submit:

(i) To the Insurance Commissioner in the State in which it wishes to become chartered:

1. Before it may offer insurance in any State, a plan of operation or a feasibility study which includes the coverages, deductibles, coverage limits, rates and rating classification systems for each line of insurance the group intends to offer.
2. Revisions of such plan or study if the group intends to offer any additional lines of liability insurance.

1. A copy of such plan or study (which shall include the name of the State in which it is chartered and its principal place of business) and;
2. A copy of any revisions to such plan or study which shall include any change in the designation of the State in which it is chartered.