GAO: Put A Leash On RRGs
The General Accounting Office told Congress that a loose law allows risk retention groups to operate in ways that do not always protect their solvency and the best interests of insureds.
In a report on the nation's rapidly growing RRG sector–which number nearly 200–the GAO said common regulatory standards and greater protections for group members are needed as most operate from six states where there is minimal control and there is a risk they could go insolvent.
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