After years of lobbying by players in the alternative risk-transfer market, the House Financial Services Committee recently asked the American Risk Retention Coalition to draft legislation expanding the federal Liability Risk Retention Act.

While this is good news for ART lovers–who desperately want the right to include property coverage in risk retention groups–commercial insurance buyers await the outcome of this latest initiative with bated breath.

Several associations have tried to spearhead the movement alone, only to have their hopes dashed. The word from Washington is that their efforts have been diluted by too little cooperation among the parochial groups.

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