Captives

There is a lot of anticipation surrounding the Government Accountability Office’s investigation of some states’ interpretation of the federal Liability Risk Retention Act. For months the GAO has been questioning risk retention group owners and managers, seeking comments on the treatment received from various states.

The National Risk Retention Association (NRRA) sent a letter to Governor Chris Christie of New Jersey advising him that a bill pending in the state legislature would discriminate against risk retention groups, in direct violation of federal law.

Vermont is proposing changes to its captive-insurance law as part of its annual enhancements to its captive statute, according to the Dept. of Banking, Insurance, Securities and Health Care Administration (BISHCA).

States continue to interfere with the lawful operation of risk retention groups and federal legislation is needed to stop the practice, the National Risk Retention Association is telling the Government Accountability Office.

Vermont is proposing changes to its captive insurance law as part of its annual enhancements to its captive statute, according to the Dept. of Banking, Insurance, Securities and Health Care Administration.

Armed with a brand new captive law, New Jersey’s captive insurance association today announced the formation of an advisory board and a logo.