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April 10, 2017 NRRA ANNOUNCES SUPPORT FOR RRG LEADERS SUMMIT

The National Risk Retention Association - the place for all things Risk Retention Group - is pleased to announce its participation in The RRG Leaders Summit in Chicago on May 9, 2017. The Summit, sponsored by Captive Review, takes place at The Gwen Hotel on 521 North Rush Street from 8:30 a.m. to 4:30 p.m. with a 90-minute reception to follow.

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March 13, 2017 RESTORATION RRG SUES WISCONSIN OVER RRG DISCRIMINATION, NRRA FILES AMICUS BRIEF TO JOIN THE FIGHT

ENCINO, Calif. – On March 6, 2017, NRRA filed yet another Amicus Curiae Brief in support of Restoration RRG in its Appeal before the 7th Circuit Court of Appeals in Chicago. In the case of Restoration Risk Retention Group vs. Ross & the Wisconsin Department of Safety and Professional Services (DSPS), Restoration is challenging a prior action by the DSPS for its discrimination against RRGs.

Restoration is the RRG insurer of ServPro franchisees. ServePro provides building remediation services for property losses and has been registered (authorized) to conduct business in Wisconsin since 2006. A 2015 decision by the Trade Credentialing Unit (TCU) of DSPS, however, denied a contractor’s license to a ServPro franchisee, based upon Wis.Stat.§101.654(2)(a). The denial can be interpreted as potentially prohibiting all non-Wisconsin charted RRGs from insuring dwelling contractors and with implications beyond contractors. §101.654(2)(a) had been on the books in Wisconsin for almost 20 years with no prior enforcement activity.

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February 21, 2017
NEW YORK AMENDS ITS CYBER SECURITY REGULATION (23 NYCRR 500) EXEMPTING FOREIGN RISK RETENTION GROUPS

The National Risk Retention Association (NRRA) announced that on February 16, 2017 the state of New York released a second set of revisions to 23 NYCRR 500, this time finally exempting non-domiciliary, or foreign, risk retention groups from compliance. On November 11, 2016, NRRA escalated its opposition to the regulation with a firm letter to the NY Department of Financial services, stating that, while recognizing the regulation did exempt smaller companies, the onerous requirements of the regulation were nevertheless completely preempted by the Liability Risk Retention Act, 15 U.S.C. 3901(a) (LRRA), which NRRA argued would exempt all RRGs from compliance.

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Please mark your calendars and plan to attend NRRA's 2017 National Conference.  

September 26 - 28, 2017
Sofitel Chicago Magnificent Mile
Chicago, IL