NU Online News Service, Dec. 22, 10:50 a.m. EST
Four industry associations are speaking up for a risk retention group, requesting that the federal Ninth Circuit Court of Appeals uphold a decision by the Nevada District Court in July 2011 to allow the RRG to continue operating, despite the state's efforts to shut it down.
The National Risk Retention Association, Nevada Captive Insurance Association, Vermont Captive Insurance Association and Captive Insurance Companies Association jointly filed an amicus brief Dec. 14 calling upon the court to find that the federal Liability Risk Retention Act of 1986 (LRRA) preempts a cease and desist order by Nevada's regulatory authority denying the Alliance of Nonprofits for Insurance RRG (ANI) the right to issue first-dollar auto-liability insurance without being licensed in the state.
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