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Congress Should Expand Liability Risk Retention Act

With premiums soaring and coverage shrinking in this rapidly hardening commercial insurance market, risk managers and their brokers are going to need all the help they can get.

That’s why it is wise of the National Risk Retention Association to push to amend the Liability Risk Retention Act of 1986 so that its members can write more lines, such as property insurance, where affordable coverage might be scarce. Even if there weren’t gaping holes in most coverage programs due to the lack of terrorism insurance, it would make sense to give buyers more options because the market began to harden even before Sept. 11.

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