What Does Federal Liability Risk Retention Act Mean?

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What does Federal Liability Risk Retention Act mean? Read on to discover the definition & meaning of the term Federal Liability Risk Retention Act - to help you better understand the language used in insurance policies.

Federal Liability Risk Retention Act

Federal Liability Risk Retention Act

Preempts some state functions. For example, the Act does not allow a state insurance regulator to prohibit risk retention groups (RRGs) domiciled in other states from operating within the regulator's state, thus eliminating the need for a fronting company.

We hope the you have a better understanding of the meaning of Federal Liability Risk Retention Act.

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