A statement released last week by the American Risk Retention Coalition calling for expansion of the federal Liability Risk Retention Act highlights a split in priorities within this alternative market sector, a rival group contends.
ARRC–formed earlier this year to serve as an umbrella group to advocate on behalf of risk retention groups–called for expansion of the LRRA to include additional lines of insurance such as property and excess workers' compensation.
"We see no reason why this valuable form of insurance should be limited to liability coverage," ARRC Chairman Dick Goff said in the statement. "In fact, we will recommend to Congress that 'liability' be dropped from the name of the law, to become simply the Risk Retention Act."
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