A call for the revision of a federal law, which allows risk retention groups (RRG) to operate nationally when licensed in a single state, has been lodged by National Risk Retention Association General Counsel Robert Myers, Jr.
In a letter to Federal Insurance Office Director Michael McRaith, Myers calledmodernization of the law an essential step in stopping states from interfering with RRG operations. Myers cited a record of states encroaching on RRG operating authority granted by the Liability Risk Retention Act of 1986 (LRRA), stating that without an enforcement mechanism, RRGs must go to the federal courts for relief—a long, expensive process that most RRGs cannot afford.
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