NU Online News Service

The National Association of Insurance Commissioners is considering amending the NAIC Model Risk Retention Act to require the states of domicile to follow the NAIC’s governance model governing risk retention groups, an attorney for a risk retention group association said.

On Nov. 4, the NAIC Risk Retention (C) Working Group met to discuss amending the NAIC Model Risk Retention Act and possible amendments to the NAIC Risk and Purchasing Group Handbook, according to the National Risk Retention Association.

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