NRRA continues to warn of RRG threats
The National Risk Retention Association (NRRA) has announced that it is continuing to assert its leadership role on both the regulatory and legislative battle fronts threatening risk retention groups (RRGs) includes planning in place for the upcoming legislative session this fall.
The NRRA sounded the alarm over the H57/SB516 Bill in Florida, which directly affected RRGS. The Bill was not signed into law by Governor Ron DeSantis, but the NRRA has warned that it might reappear in a new form in the Florida State legislature.
The Association has sent what it said is an ‘exhaustive’ legal opinion letter directed recently to the Florida Department of transportation (FDOT), which was recently the subject of a proactive meeting at the Florida Office of Insurance Regulation (FOIR) between several regulators and the President of the Florida Transportation Builders Association (FTBA).
FTBA represents a number of the RRG-insured public works contractors which continue to be at risk from the FOIR "pop-up" message described in recent NRRA newsletters, which the association has criticised.
Although originally in support of the H57/SB516 Bill, the subject of vigorous opposition from NRRA, FTBA is now working with NRRA in its fight to get the FOIR to step back from what the NRRA described as: “its misleading and discriminatory communication(s).”