An attorney representing risk retention group insurers said he is optimistic that legislation will be introduced in the next Congress to allow RRGs to offer property coverage.
The assessment came from Robert W. Minto Jr., president and chief executive officer of Lawyers Reinsurance Company in Missoula, Mt., who said he and a group of "basically friends" has gotten together to push forward the effort to expand the federal Liability Risk Retention Act.
Currently under the act, insurance companies that group together as self-insurers to form RRGs are limited to offering liability insurance.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
