SOURCE: National Risk Retention Association
WASHINGTON, DC--(Marketwire - Oct 11, 2012) - Sanford "Sandy" Elsass, a builder and manager of Risk Retention Groups, was elected Chairman of the National Risk Retention Association for a second one-year term at the Association's 25th Anniversary Conference.
"NRRA enters the next 25 years stronger than ever with professional staff and volunteer leaders ready to defend the industry against efforts to restrict the legal operation of Risk Retention Groups by a number of states. The Association has won landmark decisions in the federal courts, but efforts to encroach on the authority of RRGs continue," Elsass told the Conference. "More than ever, we need to help NRRA build an industry coalition that will convince Congress to create an enforcement mechanism in the Liability Risk Retention Act to resolve disputes without costly, lengthy litigation," he declared.
NRRA is the voice of the Risk Retention and Purchasing Group sectors of the insurance industry with more than 250 RRGs and 850 PGs. RRGs are authorized by the Liability Risk Retention Act of 1986 to write liability insurance nationally when licensed in a single state. Today, RRGs collectively write more than $2.5 billion premium.
Nancy Gray, Regional Managing Director-Americas, Aon Insurance Managers, was elected to the NRRA Board of Directors. Aon Insurance Managers is one of the world's largest managers of captive insurance companies.