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RRG Leaders Hail Regulator Task Force

NAIC panel's willingness to accept GAAP accounting draws industry

By Caroline McDonald | Updated on March 26, 2006

A National Association of Insurance Commissioners task force–formed to address issues brought up in a federal government report on risk retention groups–drew accolades from the RRG sector for expressing willingness to accept GAAP as well as statutory accounting methods for the alternative market facilities, as long as there is a summery of the differences for reviewers.

The Government Accountability Office had asked the NAIC to set standards for RRGs, saying the rules should include a uniform accounting method.

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