Business Services Industry
Expansion of RRGs sought; Proposal calls for allowing groups to fund property risks.(risk retention groups)(Brief Article)
Business Insurance, April, 2002 by Geisel, Jerry
WASHINGTON-With coverage rates climbing and availability tightening, business groups soon will ask Congress to allow risk retention groups to fund property risks. The National Risk Retention Assn., a trade group representing risk retention groups, is trying to line up support on Capitol Hill for legislation to expand the federal law that authorizes RRGs and gives the groups their special status.
RRGs currently are authorized to write only commercial casualty risks. ``We would like to see the legislation introduced soon and see it pass this term,'' said Wendy Fisher, chair of the NRRA's government affairs committee. ``We have received positive responses from potential sponsors in Congress. I think we have a very good chance of getting positive results,''...
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