September 2011 Newsletter

NRRA Conference to Focus on State Actions that Restrict Authority of Risk Retention Groups

Washington, DC - Actions by some states that interfere with the authority of Risk Retention Groups (RRGs) to operate under the Federal Liability Risk Retention Act will be a priority topic at the 23rd Annual Conference of the National Risk Retention Association (NRRA), October 5-7 in Washington, DC. Brian Braley, NNRA Chairman reported:

The Nevada legislature recently enacted a law (AB 74) prohibiting RRGs that provide vehicle service contracts from obtaining a Contractual Liability Insurance Policy (CLIP) from an affiliated company. The law exempts RRGs obtaining a Certificate of Registration before October 1, but will apply to all future service contract companies including Purchasing Groups. It also removes the option for the vehicle service contract insurer to provide a funded reserve to cover losses.

"This appears to be a clear case of discrimination against RRGs that provide vehicle service contracts and is similar to other challenges by some states to the authority of RRGs to operate under the Liability Risk Retention Act of 1986 that allows RRGs domiciled in a single state to do business in all other states with only limited regulation," said Joseph deems, long-time Chairman of NRRA's Government Affairs Committee.

Conference Chairman Sanford Elsass said the meeting will provide a platform to build support for the recently introduced RRG Modernization Act (HR 2126). The proposed legislation would establish a mechanism to resolve disputes with states over RRG operating authority. "HR 2126 would put some teeth in the federal law and relieve RRGs of the costly burden of seeking relief in the courts," Elsass said.

The conference will focus on a wide range of topics including: regulatory issues, reinsurance, portfolio management, enterprise risk management, captialization, managing litigation trends, predictive analytics, and rating agency standards for RRGs, among others. Attendees can register online at
www.riskretention.org

The Ritz Carlton Pentagon City

To reserve your hotel room for the conference at The Ritz Carlton Pentagon City, click here.    

Attendees of NRRA's annual conference can book rooms at a discounted rate of $265 per night. Just enter group code: NRKNRKA at checkout. A limited number of government rate rooms are also available.    

The Ritz Carlton Pentagon City is conveniently located at the Pentagon City Metro Station two stops from National Airport (DCA) on the Blue or Yellow line ($1.95 fare).  Alternatively, the hotel can be reached by a short (1.7 mile cab ride) from National Airport.
2011 Conference Sponsorships Available Now!     

NRRA's 2011 Conference will be held October 5-7, 2011 in Washington DC at the Ritz Carlton Pentagon City.
Sponsorships are available now:
Click here for the available sponsorship packages.
Contact info@riskretention.org with questions about the sponsorship opportunities.

Not yet a NRRA Member?  

This is a great time to join!

We are the only national membership association focused specifically on the risk retention group industry.  NRRA is a dedicated and proactive advocate for RRGs that works on behalf of members to ensure that the rights afforded RRGs under the Liability Risk Retention Act are not infringed upon.

Some of the benefits NRRA membership include discounted rates to attend the annual conference, legislative and state insurance department representation, access to useful resources, and opportunities to network with industry peers.

Contact info@riskretention.org for more information about NRRA membership.  

2011 Sponsors


Diamond Sponsors

Johnson Lambert & Co
Lewis Brisbois Bisgaard & Smith
US Re Companies

Platinum Sponsor


Delphi Technology

Gold Sponsors


A.M. Best, Amlin Underwriting Limited, Aspen, Beazley, Besso Re Limited, Catlin, Independent Broking Solutions, Ltd., Lloyd's America Inc., Logan Capital, Milliman, Morris Manning & Martin LLP, Saslow Lufkin & Buggy, Swiss Re, and Uni-Ter

Silver Sponsor


Deloitte, GPW, Munich Re, Prime Advisors, Risk Services, TransAtlantic Re, VCIA

Bronze Sponsor


BMS Intermediaries, OMIC, Imperial PFS, Housing Authority Insurance Group

Friend of NRRA


Char Hamilton, Lenders Protection Assurance Company RRG, MedAmerica Mutual, Spring Consulting Group, Strategic Risk Solutions, Gen Re