A new congressional drive has been launched to expand the coverages risk retention groups (RRGs) can offer to their policyholder-owners.
Legislation, H.R. 4523, introduced by Rep. Al Green (D-TX) along with seven cosponsors, all Democrats, would allow RRGs to offer property coverage. Under current federal law, RRGs, which are a special type of captive insurance company, can only offer commercial casualty coverages—except workers compensation.
Under the legislation, like a measure introduced but ...