NOTE: This information is only meant to be a resource tool to assist members in addressing these issues. The information provided is not to be construed as “legal advice” and the reader needs to consult and obtain their own legal advice. Also, Any RRG which receives a direct order from a “non-domiciliary” state requiring that RRG to specifically respond, needs to immediately forward a copy of that/those order(s) to us at firstname.lastname@example.org
COVID-19 RRG INDUSTRY RESOURCES
NRRA and its Government Affairs Committee (GAC) COVID-19 Task-Force have put together the below resources to help prevent negative regulatory impact on RRGs and the wider risk retention industry due to COVID-19.
These resources are intended to provide the following to NRRA members:
- Timely updates to stay in the know on current and potential regulatory orders and access to orders in all 50 states that may impact members (such as legislation, bills, executive orders, surveys, or other requests for information).
- Education to help members avoid falling victim to potentially illegal state rule-making, including a break-down of the types of state regulatory requests that have already been made, whether or not these are illegal, and how these requests attempt to impact RRG business (concerning finances, business operations, policy cancellation restrictions, policy provisions, etc.).
- Sample templates and instructions that can be used to respond quickly and efficiently to address these orders and requests in an amicable way, as not to further or create new tension with regulators.
- Virtual community, webinars and panels to share knowledge and help one another during this time
- Case-by-case assistance for RRG’s that have received a direct order from a non-domiciliary state demanding action
Note: These resources are available to NRRA members. Not a member? Become a member now via our new online membership application.
HOW TO BEST UTILIZE THESE RESOURCES
Join our live webinar to get an overview of the types of regulatory challenges facing RRGs and how to properly, quickly, and efficiently utilize the COVID-19 resource materials to address them. We will host a Q&A at the end.
LIVE WEBINAR: COVID-19 RRG Industry Resources
May 26, 2020 11:00 AM in PDT/2:00PM EDT
Open to members and non-members
Library Grid of Covid 19 State Orders
What it is: Access to orders in all 50 states that may impact RRGs (such as legislation, bills, executive orders, surveys, or other requests for information).
How to use it: Look up and access the orders where your RRG does business.
Sample Response Form Letters
What it is: Sample templates and instructions that can be used to respond quickly and efficiently to address these orders and requests in an amicable way, as not to further or create new tension with regulators.
Note: These will be authorized for use by NRRA and the GAC COVID-19 Task Force on an ad-hoc basis to be determined on the facts of each individual case.
Have you received a direct order from a non-domiciliary state demanding action by your RRG? If so, whether you are a NRRA member or not, please forward such direct orders to email@example.com and the executive office will handle each inquiry on a case-by-case basis.
STAY UPDATED AND INFORMED
We will continue to update this page and these resources as needed.
In addition, NRRA has launched a private LinkedIn group as an online community to share, help, and partner with one another. This platform will also announce member updates, address member questions/challenges, and disseminate new member resources as they become available.