:: About NRRA
The Federal Liability Risk Retention Act (LRRA) was passed in 1986 and signed into law by Ronald Reagan. No federal agency, however, is responsible for oversight or regulation of this law. The primary regulatory authority for a risk retention group is its state of domicile. The law curtails the regulatory authority of non-domiciliary states.
Over the years, this regulatory approach has caused some issues. As principal advocate for risk retention and purchasing groups, the National Risk Retention Association (NRRA) backs RRGs and PGs before state regulatory authorities and the National Association of Insurance Commissioners (NAIC).
As part of this effort, NRRA has been an advocate and a source of information and education for state and federal regulators and legislators. NRRA has attempted to provide clarity on various issues, including:
Over the years since its founding in 1987, NRRA has demonstrated its support for risk retention groups and purchasing groups by participating in several significant lawsuits that protected their rights. NRRA has helped win some major decisions in which the federal court upheld the preemption provisions of the LRRA, and has otherwise effectively thwarted or redirected prospectively damaging legislation.
In doing so, NRRA has:
NRRA in the Courts
NRRA has been a critical advocate for RRGs in the courts, filing numerous amicus briefs that challenged regulator overreach and state laws that violated the LRRA. Key cases include:
NRRA continues to be proactive in its approach to numerous issues being pursued within the NAIC, GAO, and FIO. This has sometimes resulted in the insertion of specific language in proposed rules that exempted RRGs from what otherwise would be harsh treatment of RRGs and Purchasing Groups. More recently, NRRA has supported the Ophthalmic Mutual Insurance Company (OMIC) the largest insurer of eye physicians and surgeons in the U.S. towards the passage of 2015 Wisconsin Act 55, effective July 14, 2015, which finally permitted RRGs to write health care liability insurance for providers in Wisconsin. The act includes amendments to laws that had kept risk retention groups from insuring Wisconsin physicians, nurse anesthetists, hospitals, and other medical entities.
NRRA Historical Timeline
For any NRRA inquiries, please contact:
Joseph E. Deems, Executive Director
16133 Ventura Blvd., Suite 1055, Encino, CA 91436, U.S.A.
800.928.5809 x102 | firstname.lastname@example.org
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