Filed Under:Risk Management, Captives

GAO, NRRA Spar over Federal RRG Law and What Comes Next

NU Online News Service, April 25, 2:35 p.m. EDT

The battle between the National Risk Retention Association and the Government Accountability Office rages on as the private group has publicly criticized a GAO report calling for clarification of a federal law regulating risk retention groups.

According to Alicia Puente Cackley, director of Financial Markets and Community Investment at the GAO and author of the contentious work, says the report was commissioned by the House Financial Services Subcommittee on Oversight and Investigations.

“Because insurance isn’t regulated at a federal level, it has been our practice for some time to have the NAIC to stand in as representatives for state-insurance commissioners.” Their comments are printed in an appendix regardless of whether the GAO agrees with the second opinion.

Featured Video

Most Recent Videos

Video Library ››

Top Story

Baby, it’s cold outside! Here are 6 tips for staying safe in sub-zero temperatures

Extreme temperatures bring risks to people and property. Make sure you are taking care of yourself and your surroundings.

Top Story

5 ways insurance agencies can improve their websites

The way people use the Internet has changed over the past few years. Has your website changed with it?

More Resources

Comments

eNewsletter Sign Up

PropertyCasualty360 Daily eNews

Get P&C insurance news to stay ahead of the competition in one concise format - FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.