Missouri regulators have granted a risk retention group association's rule change request so such insurance units can transact business without state certification.
That was the good news for RRGs. The bad news? The Missouri Department of Insurance now proposes a new filing requirement for annual statements that RRGs object to.
In September, after the National Risk Retention Association sent a letter to the department, the agency dropped a requirement that a policy should be issued by an insurer “with a valid certificate of authority from the director to transact liability insurance in this state.”
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