A statement released last week by the American Risk Retention Coalition calling for expansion of the federal Liability Risk Retention Act highlights a split in priorities within this alternative market sector, a rival group contends.
ARRC–formed earlier this year to serve as an umbrella group to advocate on behalf of risk retention groups–called for expansion of the LRRA to include additional lines of insurance such as property and excess workers' compensation.
"We see no reason why this valuable form of insurance should be limited to liability coverage," ARRC Chairman Dick Goff said in the statement. "In fact, we will recommend to Congress that 'liability' be dropped from the name of the law, to become simply the Risk Retention Act."
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.
