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| January 2012 News Headlines |
GAO Report Recommends Congress Consider Clarifying LRRA
The U.S. Government Accountability Office (GAO) is recommending that Congress consider clarifying some provisions of the Liability Risk Retention Act regarding registration requirements, fees and coverage, in order to solve disputes between state regulators and nondomiciliary RRGs. The report, released January 9 and titled "Risk Retention Groups: Clarifications Could Facilitate States’ Implementation of the Liability Risk Retention Act," was requested by Congress due to industry concerns and the recent proposals to expand the LRRA.
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NRRA Says GAO Report Highlights Important Issues for RRGs
The Government Accountability Office (GAO) report on RRGs, released January 9th, has already garnered an initial reaction of some RRG industry professionals.
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Vermont and Others File Letters in Support of ANI
Several entities, including the Vermont Department of Banking, Insurance, Securities and Health Care Administration, have joined the chorus of support for the Alliance of Nonprofits for Insurance, RRG (ANI) a Vermont-domiciled risk retention group that serves the nonprofit sector, in its case against Nevada Division of Insurance. Vermont, the National Risk Retention Association, (NRRA), and some fellow RRGs have sent letters or amicus briefs to the U.S. Court of Appeals for the Ninth Circuit in San Francisco, California in support of a previous ruling in favor of ANI’s right to sell auto insurance in the state of Nevada.
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RRGs Picking Up Larger Share of MedMal Premium, Data Show
The share of medical professional liability (MPL) premium written by risk retention groups has increased over the last five years, even as the total premium paid for MPL coverage has been shrinking, an analysis of data from the NAIC and data collected by the Risk Retention Reporter found.
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Physicians RRGs Include Variety of Formats, Characteristics
The 59 risk retention groups operating in the Physicians market segment going into 2012 are a mixed bag--with the majority of RRGs in this segment operating as stock companies, in limited geographic areas (state or regional), and offering membership to physicians regardless of affiliation or practice type.
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» More headlines and article excerpts
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| LRRA 20th Anniversary Issue |
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| Directory of RRGs and PGs |
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| Service Provider Directory |
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| Industry Growth and Statistics |
Total Number of RRGs:
249 RRGs as of December 2011
Total Number of PGs:
841 PGs as of December 2011
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Breaking News
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GAO Report on RRGs Released
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On January 9, 2012, the Government Accountability Office (GAO) released its long-anticipated report on RRGs and regulation by non-domiciliary states. The report recognizes that there is a problem. The Liability Risk Retention Act (LRRA) is vague one several key points, which allows for broad interpretations by regulators, courts, and RRGs.
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