20 April 2020Law & regulation

NRRA announces annual conference in September, creates COVID task force

The National Risk Retention Association (NRRA) will hold its 2020 National Conference on September 29 - October 1 at the Sofitel Magnificent Mile Hotel in Chicago.

The NRRA also recently approved the appointment of a GAC COVID-19 Task Force, chaired by Jerry Yoshida of Goodsill Anderson Quinn and Stifel.

The task force will collect, organise and analyse legislation, bills, executive orders, surveys and other policy items related to COVID-19 that could have a negative regulatory impact on the business practices of RRGs. It will then publish resource materials to help members respond to these policy changes more effectively.

NRRA is particularly focused on the potential regulatory impact of non-domiciliary states’ orders and requests for compliance, for example increased disclosure requirements that go beyond the scope of the federal Liability Risk Retention Act (LRRA). NRRA is specifically concerned about such requests that could alter how RRGs operate though their domicile regulators under their current business plans.

Nancy Gray, chair of the NRRA, said the group intends to be proactive in its response to the pandemic crisis. “The Association plans to develop information and educational tools to help members avoid falling victim to state rule-making that is preempted by LRRA,” she said.

Aon’s Patti Pallito and Deborah Gambone, Heather Ross from Risk Services and Derick White of Strategic Risk Solutions join Yoshida on the task force.