NU Online News Service
A federal probe into whether state insurance regulators are overstepping their authority when it comes to risk retention groups is being hailed by a national self-insurance group.
The directive came from Rep. Dennis Moore, D-Kan., to the Government Accountability Office, ordering an investigation into allegedly improper state regulatory burdens being imposed on the creation and maintenance of federally sanctioned risk retention groups.
Rep. Moore, chair of the House Oversight Committee on Financial Services, directed the GAO to study instances when non-domiciliary states attempt to improperly regulate the operation of RRGs through such tactics as "cease and desist" orders, onerous filing requirements, imposition of fees, waiting periods, information requests or other means.
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