This time last year, I wrote about the much discussed and then rejected plan to merge two important alternative market groups–the Captive Insurance Companies Association and the National Risk Retention Association.
I reasoned that united they would be better able to serve all alternative risk-transfer market constituents. One group rather than two, I thought, would have meant one less meeting for captive owners and ancillary businesses to attend, and less money paid out in annual dues to multiple organizations. Most importantly, it would have meant a stronger lobbying organization and a bigger voice representing the alternative market.
Why this didn't happen is still a mystery. Some believe CICA's networking mission and NRRA's ongoing lobbying efforts–first to expand the Liability Risk Retention Act, and now to see that risk retention groups are heard in light of the Government Accountability Office report challenging RRGs–were just too far apart.
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