An executive with a risk retention group told a congressional panel yesterday that the insurance sector would have more market capacity if her industry was given permission to insure property.
The testimony from Janice Abraham, president of United Educators, a Reciprocal Risk Retention Group, came before the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
Her appearance was the latest in an ongoing drive by risk retention groups to secure federal approval for insuring additional areas of risk. The RRGS have been limited to providing liability insurance since their structure was approved by Congress in 1986.
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