A lot of anticipation surrounding the Government Accountability Office's (GAO) investigation of some states' interpretation of the federal Liability Risk Retention Act (LRRA). For months the GAO has been questioning risk retention group (RRG) owners and managers, seeking comments on the treatment they receive from various states.
The latest is New Jersey, which only recently adopted a captive law. The state has proposed legislation that would exclude RRGs from providing liability insurance to taxicab drivers.
Robert H. "Skip" Myers Jr., general counsel of the National Risk Retention Association (NRRA), sent a letter to N.J. Governor Chris Christie advising him that the bill, pending in the legislature, would discriminate against RRGs.
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.
