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HR 2126 112th Congress House

Risk Retention Modernization Act of 2011

Official title: To modernize the Liability Risk Retention Act of 1986 and expand coverage to include commercial property insurance, and for other purposes.

Introduced: June 3, 2011 See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresBusiness ethicsBusiness recordsCorporate finance and management
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Department of the TreasuryFederal preemptionGovernment studies and investigationsInsurance industry and regulationLife, casualty, property insuranceState and local government operations
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 29, 2011
Referred to the Subcommittee on Insurance, Housing and Community Opportunity.
Jun 3, 2011
Referred to the House Committee on Financial Services.
Jun 3, 2011
Introduced in House
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 Latest action July 29, 2011

Referred to the Subcommittee on Insurance, Housing and Community Opportunity.

 Plain-English summary Congressional Research Service

Risk Retention Modernization Act of 2011 - Amends the Liability Risk Retention Act of 1986 to require the Director of the Federal Insurance Office to: (1) report periodically to the President and Congress on the extent of state compliance with the Act's prohibition against state regulation of risk retention and purchasing groups that are not domiciliaries of the state; and (2) issue certain corporate governance standards, meeting specified criteria, for risk retention groups.

Extends the coverage of the Act to risk retention groups offering commercial property insurance. Applies to commercial property insurance the exemption of purchasing groups from state law.

Revises procedures for: (1) submitting financial documents to state insurance commissioners, and (2) mandatory disclosures.

Imposes a fiduciary duty upon the board of directors of a risk retention group to operate in the best interests of the group.

Redesignates the Act as the Risk Retention Act.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1
D
Welch, Peter
Vermont · Jun 3, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2126: Risk Retention Modernization Act of 2011. 112th Congress. Open America. https://openamerica.io/bill/112-HR-2126/
MLA
"H.R. 2126: Risk Retention Modernization Act of 2011." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-2126/.
Bluebook (legal)
H.R. 2126, 112th Cong. (2026), https://openamerica.io/bill/112-HR-2126/.
Markdown link
[H.R. 2126: Risk Retention Modernization Act of 2011](https://openamerica.io/bill/112-HR-2126/)
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