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LRRA Expansion Snagged By NAIC

LRRA Expansion Snagged By NAICWashington, D.C. Just when a two-year attempt to expand the federal Liability Risk Retention Act seemed to be gathering momentum, unforeseen ...

By Caroline McDonald | Updated on October 21, 2003

LRRA Expansion Snagged By NAICWashington, D.C.

Just when a two-year attempt to expand the federal Liability Risk Retention Act seemed to be gathering momentum, unforeseen opposition from regulators is cause for concern, said the general counsel for the National Risk Retention Association.

Regulators, though “willing to discuss” the matter, said they have concerns about the regulation of RRGs and the ceding of personal risk of insureds to the RRG.

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