The National Association of Insurance Commissioners' efforts to develop new regulations for self-insurance operations should be a more open process and give risk retention groups more say, a captive insurers' trade group has written regulators.
The letter from the Arizona Captive Insurance Association (AzCIA) said any new regulation should be subject to public hearing and take the form of model legislation that would require approval by state legislatures.
AzCIA's letter comes as NAIC is undertaking a review of risk retention groups after recommendations from the General Accountability Office in September that it draft new rules for them.
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:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 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.
