At its annual conference, the National Risk Retention Association (NRRA) will mark 25 years defending risk retention groups (RRG) and purchasing groups (PG) against attempts by some state regulators to restrict their operation in violation of federal law.
NRRA is a non-profit trade association that develops the education and promotion of U.S. domiciled alternatives to standard liability insurance.
Chairman of NRRA, Sanford Elsass said in a recent statement: “Our Association has won landmark cases in the federal courts upholding the right of RRGs to operate nationally when licensed in a single state, but some states continue to impose registration requirements, excessive fees and other limits on RRG authority -- actions that are not permitted under the federal Liability Risk Retention Act of 1986 (LRRA), which preempts most regulation by non-domicile states,”
The last 25 years has seen an increase in RRG’s with over 250 companies generating over $2.5 billion premium. The PG sector has also grown to more than 850 PG’s.
“We’ll continue to fight for legislation to put teeth in the federal law by amending the LRRA to include a dispute resolution mechanism that would relieve RRGs from having to seek relief in the federal courts when states impose unlawful restrictions on their operation,” Elsass added.
The conference will be held at the Ritz Carlton, Pentagon City, Washington from 9-11 October 2012.