Rep. Dennis Moore, a Democrat from Kansas, has asked the Government Accountability Office (GAO) to investigate alleged abuses of federally sanctioned risk retention groups (RRGs) by some state insurance regulators.

Legislation has been introduced to permit risk retention groups to write commercial property coverage, expanding their role from the selling of liability insurance only.

The U.S. House of Representatives has passed reforms to the non-admitted insurance, or surplus lines, and reinsurance market, a move praised by two national agents’ groups.

Two senators have introduced the Nonadmitted and Reinsurance Reform Act of 2009, a companion bill to the House version introduced two months ago.

Mel Martinez

Sen. Evan Bayh (D-Ind.) and Sen. …  Read →

The Independent Insurance Agents & Brokers of America is calling a new bill regarding reform efforts in surplus lines regulation and reinsurance supervision “another example of a positive targeted approach …  Read →