Q. Who has regulatory responsibility for the RRG?
A. The state in which the RRG is domiciled has primary regulatory authority over it. The insurance department of the domicile state is responsible to monitor both the RRGs compliance with the LRRA and any specific requirements of that state of domicile. EMPAC RRG is regulated by the state of Nevada, which is the state in which EMPAC RRG is domiciled.
EMPAC RRG does provide its business plan and financials to each state as part of its registration with each state’s Dept of Insurance.
Q. Why has EMPAC RRG been formed in the State of Nevada?
A. Nevada has been chosen for the domicile for EMPAC RRG due to its favorable captive insurance regulatory requirement and extensive experience in the successful regulation of RRGs. In addition, as one of the premier locations for captive insurance companies in the U.S., Nevada has a well-established infrastructure at both the private and public levels, including lawyers, accountants, and administrators well-versed in RRG operations.