The Oklahoma Insurance Department has announced it will no longer seek antifraud fees from risk retention group insurance units.
The National Risk Retention Association (NRRA) applauds the recently announced decision of the Oklahoma Insurance Department to not enforce its annual anti-fraud fee against risk retention groups (RRGs).
For several years, Oklahoma has taken the position that RRGs should pay the fee, and many RRGs have done so under protest. The Liability Risk Retention Act, a federal statute, allows states to assess "premium and other taxes" assessed on a non-discriminatory basis on RRGs, but does not permit the assessment of fees. Until just a few days ago, Oklahoma had taken the position that it had the authority to assess these fees. NRRA and numerous RRGs had registered their opposing interpretation of the law in extensive correspondence.
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