Congressman Royce -- Vocal Critic of the NAIC -- to Address NRRA Conference

WASHINGTON, DC--(Marketwired - Aug 22, 2013) - Representative Edward Royce will be a featured speaker at the annual conference of the National Risk Retention Association, October 1-3, in Washington, DC. The California Republican is a senior member of the U.S. House of Representatives Financial Services Committee and holds a number of other key committee assignments, including chairman of the House Foreign Affairs Committee.

In a letter to the President of the National Association of Insurance Commissioners last year, Rep. Royce took issue with the NAIC's dual role as a standard-setting body for state insurance regulators and at the same time its admitted status as a private association of insurance commissioners. "We're pleased to have Ed Royce on our program. He is widely respected in the industry for his deep knowledge of insurance and his views on regulatory issues affecting risk retention groups," said Rod Nofziger, NRRA Conference Chairman.

Other major conference topics will be what RRGs must do to prepare for full implementation of the Affordable Care Act (ACA) in 2014 and how to deal with the growing threat of cyber attacks. "The impact of ACA on the liability insurance market is a major concern for our industry because more than half the 250 RRGs operating today are in healthcare; and cyber security has become a priority for companies large and small," Nofziger said.

A host of other subjects critical to RRG operations are on the program including contractual liability/stop loss; how to address rising premiums for Directors & Officers and Errors & Omissions insurance; legislative developments; outlook for industry growth; reinsurance planning; Medicare/Medicaid RAC audits; and how to deal with the trial bar. The conference will conclude with a Town Hall meeting with insurance regulators.

The Conference will be held at the Ritz Carlton Pentagon City. Attendees can register online at our website: www.nrra-usa.org.