IGX

LooseNut wrote:

Those are some big jugs. Please ignore the attached douchebag.

LooseNut wrote:

Those are some big jugs. Please ignore the attached douchebag.

Thud wrote:Oh noes, get off the rings! You could suffer a debilitating injury, like couch.

Nothing worse than a ring injury!

LooseNut wrote:

Fat Cat wrote: That's a beautiful girl.

Andy is so sweet he actually is a way faster runner than me, but he enjoys taking it easy and running with me at races.

A Risk Retention Group is a form of self-insurance. Unlike a traditional insurance company, an RRG is formed and owned by its policyholders, and covers specific liabilities and actions, as defined by the RRG, which are most likely not covered by any insurance you’re going to be able to get. As mysterious as that might sound, RRGs are common practice for law enforcement officers, doctors practicing emergency medicine, contractors, medical product manufacturers, and a variety of other professionals in high-risk industries.

The important part of all this insurance jargon is that CrossFit will form its own independent company. This company will not be owned by CFHQ; it will be owned by YOU—the community, our affiliates and trainers. The owners will participate in underwriting, risk management, claims administration, and finance committees, all chaired and populated by people from our own community. We will have complete insight to and control of all facets of the RRG operations.

The CF-RRG was designed to fill a dangerous chink in our armor, and in doing so it serves an even more foundational goal: defense of our reputation. Think of the CF-RRG as our war chest, providing the resources to protect our community, methodology, and the trainers and affiliates whose livelihood depends on CrossFit’s success. It was also designed to guarantee that affiliates and trainers will be able to obtain insurance, and that insurance won’t be canceled when the insurance company gets skittish about what it has read in the media about “the dangers of CrossFit.”

WildGorillaMan wrote:You know most new companies have reached a market top when they issue an IPO. In @fit's case, it's when they start selling "insurance" to the affiliates:

A Risk Retention Group is a form of self-insurance. Unlike a traditional insurance company, an RRG is formed and owned by its policyholders, and covers specific liabilities and actions, as defined by the RRG, which are most likely not covered by any insurance you’re going to be able to get. As mysterious as that might sound, RRGs are common practice for law enforcement officers, doctors practicing emergency medicine, contractors, medical product manufacturers, and a variety of other professionals in high-risk industries.

The important part of all this insurance jargon is that CrossFit will form its own independent company. This company will not be owned by CFHQ; it will be owned by YOU—the community, our affiliates and trainers. The owners will participate in underwriting, risk management, claims administration, and finance committees, all chaired and populated by people from our own community. We will have complete insight to and control of all facets of the RRG operations.

The CF-RRG was designed to fill a dangerous chink in our armor, and in doing so it serves an even more foundational goal: defense of our reputation. Think of the CF-RRG as our war chest, providing the resources to protect our community, methodology, and the trainers and affiliates whose livelihood depends on CrossFit’s success. It was also designed to guarantee that affiliates and trainers will be able to obtain insurance, and that insurance won’t be canceled when the insurance company gets skittish about what it has read in the media about “the dangers of CrossFit.”

LooseNut wrote:

Those are some big jugs. Please ignore the attached douchebag.

Sofa King wrote:I give the RRG a year; 18 months tops before the whole thing implodes. Too much dissention in the ranks and too much cash needed to seed the group.

Hebrew Hammer wrote:The legal and financial aspects of this are also very tricky. Insurance is regulated. You need agreements on how to operate, how to make decisions, and how to handle the funds. It's quite an undertaking.