WASHINGTON--A federal lawmaker said he is drafting a measure to let risk retention groups offer property coverage and to improve corporate governance of such operations.
Rep. Dennis Moore, D-Kan., disclosed his plans to introduce the bill in comments today at the annual meeting of the Self-Insurance Institute of America Inc.
"I believe the time is now, before we experience another hard market for commercial property insurance, to expand the Liability Risk Retention Act to include property coverage," Rep. Moore said.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
