Former NRRA chairwoman Rebecca Smart, discusses the challenges and progress she sees in regulation with regard to captives and risk retention groups (RRGs), particularly within the NIAC. She is Corporate Secretary & Legal Counsel for Lenders Protection Assurance Company.
Ms. Smart has observed more acceptance of RRGs over time, while new standards and some new regulation continue to emerging within certain States. While she is gratified by the relationships between NRRA and the NAIC, she also sees an ongoing need to maintain this relationship due to changes in regulators and regulations over time.
For more from the 2015 NRRA Conference, visit the WRIN.tv On Demand Library.